Citrix Systems Inc. (CTXS) Rating Increased to Buy at Vetr Inc.
Citrix Systems Inc. (NASDAQ:CTXS) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $87.24 price objective on the cloud computing company’s stock. Vetr‘s target price suggests a potential upside of 5.02% from the company’s previous close.
CTXS has been the topic of several other research reports. Jefferies Group reissued a “hold” rating on shares of Citrix Systems in a research note on Tuesday, July 5th. Zacks Investment Research raised Citrix Systems from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, June 21st. William Blair reissued a “market perform” rating on shares of Citrix Systems in a research note on Wednesday, July 20th. Deutsche Bank AG lifted their price target on Citrix Systems from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, July 27th. Finally, Citigroup Inc. lifted their price target on Citrix Systems from $93.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.30.
Citrix Systems (NASDAQ:CTXS) traded down 1.92% during trading on Tuesday, hitting $83.07. The company had a trading volume of 1,306,027 shares. The stock has a 50-day moving average of $85.42 and a 200-day moving average of $83.91. The stock has a market capitalization of $12.94 billion, a PE ratio of 33.47 and a beta of 1.94. Citrix Systems has a one year low of $60.91 and a one year high of $90.00.
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Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Tuesday, July 26th. The cloud computing company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.06. Citrix Systems had a return on equity of 32.31% and a net margin of 11.56%. The business had revenue of $843 million for the quarter, compared to the consensus estimate of $816.56 million. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Citrix Systems will post $5.06 EPS for the current year.
In other Citrix Systems news, SVP Carlos Sartorius sold 13,290 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $84.51, for a total transaction of $1,123,137.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Murray J. Demo sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $88.99, for a total transaction of $88,990.00. Following the transaction, the director now owns 20,516 shares of the company’s stock, valued at $1,825,718.84. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CTXS. Renaissance Technologies LLC purchased a new position in shares of Citrix Systems during the first quarter valued at approximately $16,367,000. HBK Investments L P boosted its stake in Citrix Systems by 32.4% in the first quarter. HBK Investments L P now owns 113,300 shares of the cloud computing company’s stock worth $8,903,000 after buying an additional 27,700 shares during the last quarter. Hancock Holding Co. bought a new stake in Citrix Systems during the first quarter worth $14,006,000. Wellington Management Group LLP boosted its stake in Citrix Systems by 516.0% in the first quarter. Wellington Management Group LLP now owns 148,678 shares of the cloud computing company’s stock worth $11,684,000 after buying an additional 124,543 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Citrix Systems by 25.3% in the first quarter. Riverhead Capital Management LLC now owns 348,970 shares of the cloud computing company’s stock worth $27,423,000 after buying an additional 70,546 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.
About Citrix Systems
Citrix Systems, Inc develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through two segments: Enterprise and Service Provider, and Mobility Apps. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products.
To view Vetr’s full report, visit Vetr’s official website.
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