July 15, 2024


It's the Technology

Is Calix (CALX) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of Calix (CALX), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Calix is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CALX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CALX’s full-year earnings has moved 8.06% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that CALX has returned about 31.28% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 2.03% on a year-to-date basis. This means that Calix is performing better than its sector in terms of year-to-date returns.

To break things down more, CALX belongs to the Internet – Software industry, a group that includes 104 individual companies and currently sits at #181 in the Zacks Industry Rank. On average, this group has lost an average of 9.11% so far this year, meaning that CALX is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on CALX as it attempts to continue its solid performance.

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