Needham & Company Lowers Citrix Systems Price Target to $70.00 (CTXS)
Analysts at Needham & Company dropped their target price on shares of Citrix Systems (NASDAQ:CTXS) from $80.00 to $70.00 in a research report issued to clients and investors on Thursday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price would indicate a potential upside of 20.73% from the stock’s previous close.
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 released its 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 last year, the company posted $0.68 earnings per share. Citrix Systems’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Citrix Systems will post $2.96 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CTXS. Analysts at Jefferies Group cut their price target on shares of Citrix Systems from $78.00 to $70.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently 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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