Citrix Systems Price Target Cut to $68.00 (CTXS)
Credit Agricole dropped their price target on shares of Citrix Systems (NASDAQ:CTXS) from $78.00 to $68.00 in a research note issued on Thursday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Credit Agricole’s price target would indicate a potential upside of 15.74% from the company’s current price.
Shares of Citrix Systems (NASDAQ:CTXS) traded down 11.87% during mid-day trading on Thursday, hitting $58.75. The stock had a trading volume of 15,449,285 shares. Citrix Systems has a 52 week low of $56.57 and a 52 week high of $77.16. The stock has a 50-day moving average of $71.81 and a 200-day moving average of $67.71. The company has a market cap of $11.009 billion and a P/E ratio of 39.92.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data 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 last year, the company posted $0.71 earnings per share. Citrix Systems’s revenue was up 18.7% compared to the same quarter last year. Analysts expect that Citrix Systems will post $3.09 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CTXS. Analysts at Credit Suisse cut their EPS estimates on shares of Citrix Systems in a research note on Thursday. They now have an “outperform” rating and a $85.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Citrix Systems in a research note to investors on Thursday. They now have a $76.00 price target on the stock, up previously from $67.00. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Citrix Systems from a “conviction buy list” rating to a “conviction-buy” rating in a research note to investors on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $77.96.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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