Why Calix Stock Dived 26% Lower Today
While quarterly earnings beats are usually happy events, they don't always result in immediate share price gains. That was the situation with specialty tech stock (NYSE: CALX) on Tuesday; despite an earnings report that was impressive at first glance, investors were troubled by what the future might bring. As a result, they traded out of the company's shares to the point where the stock lost nearly 26% of its value.
After market hours Monday, Calix unveiled its fourth-quarter and full-year results. The former period saw the telecom company take in $264.7 million, which was notably higher than the almost $245 million it earned in the same quarter of 2022. On average, analysts were expecting a bit under $264.4 million.
The company notched a more convincing beat on the bottom line, with non-GAAP (adjusted) net income landing at $29.4 million ($0.43 per share).
Source Fool.com
Calix Inc. Stock
Calix Inc. is currently one of the favorites of our community with 20 Buy predictions and no Sell predictions.
As a result the target price of 59 € shows a very positive potential of 94.08% compared to the current price of 30.4 € for Calix Inc..
