Citrix Systems Rating Reiterated by Zacks (CTXS)
Citrix Systems (NASDAQ:CTXS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, AR Network reports. They currently have a $66.00 price target on the stock. Zacks‘ price target indicates a potential upside of 5.62% from the stock’s previous close.
Zacks‘ analyst wrote, “Citrix Systems reported mixed financial results for the third quarter of 2013. The bottom outpaced the Zacks Consensus Estimate but the top line missed the same. We believe that the global trend toward virtualization and cloud computing will facilitate Citrix to maintain its momentum in the long term. In our view, the business fundamentals of Citrix remain intriguing as the corporate spending for IT is expected to rise globally in the future. The newly-launched XenMobile product is gaining huge market traction in the highly lucrative enterprise mobility segment. Citrix has won large contracts specifically from financial services, telecom, information technology and healthcare sectors. We believe that Citrix is currently fairly valued and therefore, reaffirm our long-term Neutral recommendation. “
Citrix Systems (NASDAQ:CTXS) traded up 0.16% during mid-day trading on Friday, hitting $62.5901. The stock had a trading volume of 907,449 shares. Citrix Systems has a one year low of $54.52 and a one year high of $77.16. The stock’s 50-day moving average is $59.21 and its 200-day moving average is $64.67. The company has a market cap of $11.667 billion and a price-to-earnings ratio of 37.64.
Citrix Systems (NASDAQ:CTXS) last released its earnings data on Wednesday, October 23rd. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Citrix Systems from $70.00 to $74.00 in a research note to investors on Friday, December 6th. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets initiated coverage on shares of Citrix Systems in a research note to investors on Wednesday, December 4th. They set a “market perform” rating and a $65.00 price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Citrix Systems in a research note to investors on Wednesday, November 13th. They now have a $84.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $74.93.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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