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Investment analysts at BMO Capital Markets cut their price target on shares of Citrix Systems (NASDAQ:CTXS) from $65.00 to $60.00 in a note issued to investors on Thursday, American Banking News.com reports. BMO Capital Markets’ target price indicates a potential upside of 12.59% from the stock’s previous close.

Shares of Citrix Systems (NASDAQ:CTXS) traded down 7.48% during mid-day trading on Thursday, hitting $53.29. The stock had a trading volume of 18,145,012 shares. Citrix Systems has a 52 week low of $54.52 and a 52 week 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 P/E ratio of 34.70.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results 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. On average, analysts predict that Citrix Systems will post $3.35 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho cut their price target on shares of Citrix Systems from $75.00 to $70.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Evercore Partners cut their price target on shares of Citrix Systems from $68.00 to $65.00 in a research note to investors on Thursday. Finally, analysts at Pacific Crest downgraded shares of Citrix Systems from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday. They now have a $85.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company. Citrix Systems has an average rating of “Hold” and a consensus target price of $70.12.

Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.

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