Calix (CALX) Moves 7.0% Higher: Will This Strength Last?

Calix CALX shares rallied 7% in the last trading session to close at $31.47. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 29.5% loss over the past four weeks.Calix is benefiting from strong demand for its broadband platform, cloud, and managed services, driving revenue growth and customer expansion.This cloud, software platforms, systems and services provider for communications service providers is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $207.05 million, down 8.5% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Calix, the consensus EPS estimate for the quarter has been revised 8.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CALX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Calix is part of the Zacks Internet - Software industry. Rimini Street RMNI, another stock in the same industry, closed the last trading session 1.5% higher at $4.02. RMNI has returned 40.9% in the past month.For Rimini Street, the consensus EPS estimate for the upcoming report has changed -8.3% over the past month to $0.09. This represents a change of +28.6% from what the company reported a year ago. Rimini Street currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Calix, Inc (CALX): Free Stock Analysis Report Rimini Street, Inc. (RMNI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks