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Citrix Systems (NASDAQ:CTXS) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday. The firm currently has a $75.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 19.52% from the company’s current price.

Zacks’ analyst wrote, “Citrix Systems reported strong first quarter 2014 financial results with both the top and the bottom line outpacing the Zacks Consensus Estimate. We believe that the global trend toward virtualization and cloud computing will facilitate Citrix to maintain its momentum in the long term. Further, the business fundamentals of Citrix remain intriguing as the corporate spending for IT is expected to rise globally. As a result the company raised its guidance for the next quarter as well as for fiscal 2014. Moreover, both its XenMobile and XenApps are gaining significant market traction in the highly lucrative enterprise mobility segment and Windows app virtualization. Meanwhile, Citrix plans to boost shareholders wealth by authorizing a $1.5 billion share buyback plan. We, thus, upgrade our recommendation on Citrix to Outperform from Neutral. “

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated an “overweight” rating on shares of Citrix Systems in a research note on Wednesday, May 7th. They now have a $66.00 price target on the stock, up previously from $63.00. Separately, analysts at RBC Capital raised their price target on shares of Citrix Systems from $63.00 to $66.00 in a research note on Tuesday, May 6th. Finally, analysts at Bernberg upgraded shares of Citrix Systems from a “sell” rating to a “buy” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $70.55.

Citrix Systems (NASDAQ:CTXS) traded down 0.11% on Thursday, hitting $62.75. 1,744,766 shares of the company’s stock traded hands. Citrix Systems has a 52 week low of $51.18 and a 52 week high of $77.16. The stock’s 50-day moving average is $62.96 and its 200-day moving average is $60.03. The company has a market cap of $10.282 billion and a P/E ratio of 35.25.

Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.05. The company had revenue of $750.80 million for the quarter, compared to the consensus estimate of $732.17 million. During the same quarter last year, the company posted $0.62 earnings per share. Citrix Systems’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Citrix Systems will post $3.09 earnings per share for the current fiscal year.

Citrix Systems, Inc is a cloud computing company. The Company designs, develops and markets technology solutions that enable information technology (NASDAQ:CTXS) services.

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