Citrix Systems Stock Rating Lowered by Pacific Crest (CTXS)
Citrix Systems (NASDAQ:CTXS) was downgraded by investment analysts at Pacific Crest from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $85.00 price objective on the stock. Pacific Crest’s price target points to a potential upside of 59.50% from the company’s current price.
Shares of Citrix Systems (NASDAQ:CTXS) traded down 7.48% during mid-day trading on Thursday, hitting $53.29. 18,145,012 shares of the company’s stock traded hands. 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 released its earnings data on Wednesday, January 29th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.90 earnings per share. Citrix Systems’s revenue was up 8.4% compared to the same quarter last year. 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 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. Separately, 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. Finally, 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. Two 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. Citrix Systems has a consensus 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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