Citrix Systems Price Target Cut to $79.00 by Analysts at Cowen and Company (CTXS)
Research analysts at Cowen and Company lowered their price target on shares of Citrix Systems (NASDAQ:CTXS) from $85.00 to $79.00 in a report released on Thursday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target suggests a potential upside of 34.47% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Agricole cut their price target on shares of Citrix Systems from $78.00 to $68.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Citrix Systems presently has an average rating of “Buy” and a consensus price target of $77.96.
Citrix Systems (NASDAQ:CTXS) traded down 11.87% during mid-day trading on Thursday, hitting $58.75. 15,449,285 shares of the company’s stock traded hands. Citrix Systems has a 52 week low of $56.57 and a 52 week 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 $11.009 billion and a price-to-earnings 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 in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter 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.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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