| Over a week ago | ||||
WestPark Capital analyst… WestPark Capital analyst Michael Genovese raised the firm's price target on Calix to $90 from $70 and keeps a Buy rating on the shares. The analyst says the company's customers are "big winners" in the Federal Communications Commission's Rural Digital Opportunity Fund. | ||||
Welcome to "Fly Insider,"…
| ||||
Craig-Hallum analyst… Craig-Hallum analyst Christian Schwab raised the firm's price target on Calix to $55 from $42 and keeps a Hold rating on the shares. The analyst cites better-than-expected Q3 results and Q4 guidance. | ||||
Needham analyst Ryan… Needham analyst Ryan Koontz raised the firm's price target on Calix to $73 from $55 and keeps a Buy rating on the shares. The company reported a "solid beat and raise" and its revenue mix metrics impressed with tier three and international customers driving growth, Koontz tells investors in a research note. He believes Calix maintains a "sizable competitive lead" in its product transformation and U.S. tier 3 dominance, and remains best positioned to benefit from a "massive" U.S. rural broadband build-out "funded by a plethora of subsidy programs." Calix is still Koontz's top pick in broadband. | ||||
| Over a month ago | ||||
Barrington analyst… Barrington analyst Christopher Howe raised the firm's price target on Calix to $73 from $58 and keeps an Outperform rating on the shares after the company reported better than expected Q3 results and gave a better than expected fourth quarter revenue outlook. Considering further penetration, the maturation of government programs, and the company's participation in "a multi-decade disruption," Howe is raising his multiple assumption to reflect his confidence in Calix's growth prospects, he tells investors in a post-earnings note. | ||||
Jefferies analyst George… Jefferies analyst George Notter says Calix's Q3 results "look great" on first impressions. The quarter reinforces that Calix Cloud will drive "significant" long-term upside to earnings power and that "we're still early in this transformation," Notter tells investors in a research note. The analyst believes Covid emphasized the criticality of broadband services, "a big positive for Calix," and that other catalysts have yet to play out, including "massive" additional stimulus and re-capitalized balance sheets with key customers. He believes the company is managing the impacts of semi supply chain shortages well and keeps a Buy rating on Calix with a $74 price target into this morning's earnings call. | |
The company said,… The company said, "Our target financial model range remains for revenue growth between 5 to 10% per year on an annual basis, and we expect to be toward the high side of this range for 2022." | |
Sees Q4 revenue… Sees Q4 revenue $170M-$176M, consensus $163.11M. The company said, Our guidance for the fourth quarter of 2021 ending December 31, 2021, reflects our expectations as of the date of this letter. These expectations reflect our current estimate of the global impacts from the coronavirus pandemic on our business and assessment of supply chain and logistical challenges. Our revenue guidance for the fourth quarter of 2021 is for essentially flat to an increase of approximately 4% compared to the year ago quarter. While we expect another strong quarter of demand for our All Platform offerings, we expect our revenue will continue to be impacted by supply chain constraints and logistical challenges." | |
Reports Q3 revenue… Reports Q3 revenue $172.2M, consensus $167.59M. The company said, "Results for the third quarter of 2021 set a number of third quarter and quarterly records and were better than our financial guidance provided last quarter. Overall demand was robust, and our supply chain outperformed despite the continued challenging global environment for component sourcing and supply chain logistics. Total revenue, which exceeded the high end of our guidance range, increased more than 14% compared to the year ago quarter. This strong performance was driven by demand for our All Platform offerings more than offsetting decreased purchases of our legacy system products." | |
Pre-earnings options… Pre-earnings options volume in Calix is 2.1x normal with calls leading puts 5:2. Implied volatility suggests the market is anticipating a move near 14.2%, or $7.57, after results are released. Median move over the past eight quarters is 6.5%. |