Citrix Systems Price Target Cut to $70.00 (CTXS)
Investment analysts at Mizuho dropped their target price on shares of Citrix Systems (NASDAQ:CTXS) from $75.00 to $70.00 in a note issued to investors on Thursday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 31.36% 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 one year low of $54.52 and a one year high of $77.16. The stock has a 50-day moving average of $60.26 and a 200-day moving average of $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 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue 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.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Citigroup Inc. downgraded shares of Citrix Systems from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $58.00 price target on the stock, down previously from $70.00. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the stock. Citrix Systems currently has an average rating of “Hold” and an average 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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