5 Most Promising Growth Stocks According to Analysts

2. Calix, Inc. (NYSE:CALX)

Number of Hedge Fund Holders: 24

Average Price Target by Analysts: $82.56

Calix, Inc. (NYSE:CALX) provides Cloud and software services to communication service providers. Calix, Inc. (NYSE:CALX) looks promising based on its average price target set by analysts. Last month, Calix, Inc. (NYSE:CALX) posted its fourth quarter results. Revenue in the quarter increased by about 39% on a YoY basis to reach $244.51 million, beating estimates by $3.31 million. Net income came in at $11.93 million. Calix, Inc. (NYSE:CALX) said its cash and cash equivalents as of the end of the quarter stood at $79.07 million.

In January, Loop Capital analyst Fahad Najam upped his price target on the stock to $88 from $83 and kept a Buy rating. The analyst advised investors to be “aggressive buyers” of Calix, Inc. (NYSE:CALX) as he believes there are significant growth opportunities ahead for the company.

At the end of the third quarter of 2022, 24 hedge funds reported owning stakes in Calix, Inc. (NYSE:CALX), compared to 22 funds in the previous quarter. The total value of these stakes was $451 million.

Carillon Tower Advisers made the following comment about Calix, Inc. (NYSE:CALX) in its Q3 2022 investor letter:

“Another strong performer during Q3 was Calix, Inc. (NYSE:CALX). Calix stock rebounded sharply in the quarter after reporting stellar earnings. They offer next-gen fiber broadband solutions to telecommunication companies primarily for rural markets. The broadband buildout in rural markets is still in the early innings, and the company’s subscription model offers great visibility going forward.”