Citrix Systems Rating Reiterated by JPMorgan Chase & Co. (CTXS)
Citrix Systems (NASDAQ:CTXS)‘s stock had its “neutral” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday, AnalystRatingsNetwork.com reports. They currently have a $56.00 target price on the stock. JPMorgan Chase & Co.’s price objective indicates a potential downside of 0.12% from the company’s current price.
The analysts wrote, “We rate shares of CTXS Neutral. Although we continue to believe Citrix faces structural challenges in its core Mobile and Desktop segment – a unit that accounts for more than half of the company’s revenue and even more of the company’s profit – shares look fairly valued at current levels. We estimate a Base Value for CTXS of $52.63, which we define as the value of its recurring revenue alone.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna downgraded shares of Citrix Systems from a “positive” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at FBR Capital Markets raised their price target on shares of Citrix Systems from $76.00 to $83.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Citrix Systems in a research note to investors on Friday, October 18th. They now have a $82.00 price target on the stock, up previously from $80.00. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $77.19.
Citrix Systems (NASDAQ:CTXS) opened at 56.07 on Thursday. Citrix Systems has a 52 week low of $56.57 and a 52 week high of $82.61. The stock’s 50-day moving average is $71.9 and its 200-day moving average is $67.8. The company has a market cap of $10.507 billion and a P/E ratio of 33.57.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $712.70 million for the quarter, compared to the consensus estimate of $712.00 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts expect that Citrix Systems will post $3.01 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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