Citrix Systems Price Target Cut to $70.00 (CTXS)
Equities research analysts at Jefferies Group lowered their target price on shares of Citrix Systems (NASDAQ:CTXS) from $78.00 to $70.00 in a research note issued to investors on Thursday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price suggests a potential upside of 20.73% from the company’s current price.
Shares of Citrix Systems (NASDAQ:CTXS) traded down 1.38% during mid-day trading on Thursday, hitting $57.98. The stock had a trading volume of 3,382,291 shares. Citrix Systems has a 52 week low of $56.57 and a 52 week high of $82.61. The stock has a 50-day moving average of $71.9 and a 200-day moving average of $67.8. The company has a market cap of $10.864 billion and a price-to-earnings ratio of 35.20.
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 $2.96 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. cut their price target on shares of Citrix Systems from $76.00 to $73.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Citrix Systems in a research note to investors on Thursday. They now have a $56.00 price target on the stock. Finally, analysts at Susquehanna downgraded shares of Citrix Systems from a “positive” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $64.00 price target on the stock, down previously from $78.00. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $75.78.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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