Citigroup Inc. Downgrades Citrix Systems to Neutral (CTXS)
Citrix Systems (NASDAQ:CTXS) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Thursday, TheFlyOnTheWall.com reports. They currently have a $58.00 price target on the stock, down from their previous price target of $70.00. Citigroup Inc.’s price target would indicate a potential upside of 8.84% from the stock’s previous close.
Shares of Citrix Systems (NASDAQ:CTXS) traded down 7.48% on Thursday, hitting $53.29. 18,145,012 shares of the company’s stock traded hands. Citrix Systems has a 1-year low of $54.52 and a 1-year high of $77.16. The stock’s 50-day moving average is $60.26 and its 200-day moving average is $64.46. The company has a market cap of $9.933 billion and a price-to-earnings ratio of 34.70.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $802.00 million for the quarter, compared to the consensus estimate of $805.39 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Citrix Systems will post $3.35 EPS for the current fiscal year.
A number of other firms have also recently commented on CTXS. Analysts at Deutsche Bank downgraded shares of Citrix Systems from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 22nd. They now have a $60.00 price target on the stock, down previously from $75.00. Separately, analysts at Jefferies Group raised their price target on shares of Citrix Systems from $70.00 to $72.00 in a research note to investors on Friday, January 10th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Citrix Systems in a research note to investors on Friday, January 3rd. They now have a $66.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $70.12.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.
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