Citrix Systems Given New $70.00 Price Target at Stifel Nicolaus (CTXS)
Equities researchers at Stifel Nicolaus decreased their price objective on shares of Citrix Systems (NASDAQ:CTXS) from $81.00 to $70.00 in a research report issued on Thursday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 5.01% from the stock’s previous close.
The analysts wrote, “On the heels of a solid 2Q13 print, Citrix preannounced disappointing 3Q13 revenue and EPS figures, sending shares down 10%+ in after-hours trading. In particular, Citrix disclosed that revenue is expected to be between $710M-$712 million (up 11% Y/Y at the mid-point), below guidance of $730M-$740M (up 15% Y/Y) laid out about 2 months earlier. Additionally, EPS is now expected to be roughly $0.68-$0.69, below prior guidance of $0.72-$0.73. Management did not provide color around the miss and will instead provide full details during its 3Q13 earnings call slated for Wednesday, October 23rd at 4:45PM.”
Citrix Systems (NASDAQ:CTXS) traded down 11.06% during mid-day trading on Thursday, hitting $59.2885. The stock had a trading volume of 10,138,866 shares. Citrix Systems has a one year low of $56.57 and a one year high of $77.16. The stock’s 50-day moving average is $71.81 and its 200-day moving average is $67.71. The company has a market cap of $11.110 billion and a P/E ratio of 39.92.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.63 by $0.03. The company had revenue of $730.00 million for the quarter, compared to the consensus estimate of $710.19 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Analysts expect that Citrix Systems will post $3.09 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Mizuho cut their price target on shares of Citrix Systems from $80.00 to $75.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Citrix Systems from $77.00 to $78.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Finally, analysts at Barclays Capital upgraded shares of Citrix Systems from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $78.00 price target on the stock, up previously from $77.00. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $80.12.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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