Calix (CALX) Received its Third Buy in a Row

After Jefferies and Northland Securities gave Calix (NYSE: CALX) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Richard Valera reiterated a Buy rating on Calix today and set a price target of $29.00. The company’s shares closed last Wednesday at $25.22.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 17.7% and a 65.2% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Calix with a $28.00 average price target, representing a 7.5% upside. In a report issued on October 16, Jefferies also maintained a Buy rating on the stock with a $30.00 price target.

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The company has a one-year high of $22.69 and a one-year low of $5.61. Currently, Calix has an average volume of 1.02M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CALX in relation to earlier this year.

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Calix, Inc. provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers. It enables communication service providers to provide a wide range of revenue-generating services from basic voice and data to advanced broadband services over legacy and next-generation access networks. The firm focuses on communications service providers access networks with the portion of the network, which governs available bandwidth and determines the range and quality of services that can be offered to subscribers. It also develops and sells carrier-class hardware and software products. The company was founded by Michael L. Hatfield and Carl E. Russo in August 1999 and is headquartered in San Jose, CA.