Citrix Systems (CTXS) – Investment Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Citrix Systems (NASDAQ: CTXS) recently:

  • 2/1/2018 – Citrix Systems had its price target raised by analysts at Sanford C. Bernstein from $95.00 to $106.00. They now have an “outperform” rating on the stock.
  • 2/1/2018 – Citrix Systems had its price target raised by analysts at Morgan Stanley from $82.00 to $84.00. They now have an “underweight” rating on the stock.
  • 2/1/2018 – Citrix Systems had its price target raised by analysts at Bank of America Corp from $91.00 to $97.00. They now have a “neutral” rating on the stock.
  • 2/1/2018 – Citrix Systems had its price target raised by analysts at Stifel Nicolaus from $86.00 to $88.00. They now have a “hold” rating on the stock.
  • 1/31/2018 – Citrix Systems had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $101.00 price target on the stock. They wrote, “We believe management is likely to be more conservative in order to leave itself room to deliver upside; we expect an outlook around $4.60-4.70 vs. consensus of $4.83. Maintain Buy rating and $101 PT. In all, we think current valuation of around 13x our adjusted 2019 FCF estimates seems reasonable with potential for expansion as investors gain more visibility into the pace of the transition and FCF opportunity.””
  • 1/20/2018 – Citrix Systems was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/18/2018 – Citrix Systems had its “buy” rating reaffirmed by analysts at Robert W. Baird.
  • 1/17/2018 – Citrix Systems had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $101.00 price target on the stock, up previously from $92.00. They wrote, “We believe mgmt. is likely to be more conservative in order to leave itself room to deliver upside; we expect an outlook around $4.60-4.70 vs. consensus of $4.84. Maintain Buy rating; raising PT to $101 from $92. In all, we think current valuation of around 13x our adjusted 2019 FCF estimates seems reasonable with potential for expansion as investors gain more visibility into the pace of the transition and FCF opportunity.””
  • 1/16/2018 – Citrix Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “We expect high costs to hurt Citrix System's fourth-quarter earnings as has been the case for quite some time now. Also, declining revenues from the  Product and Licenses unit might hurt the top line in the to-be-reported quarter. Detailed results are anticipated be out on Jan 31. Moreover, frequent management changes at the company have the potential to shake investors’ confidence in the stock. The company's results are also liable to be affected by foreign exchange movements as it continues to foray into non-U.S. markets. However, SaaS revenues are expected to be strong in the fourth quarter, thereby boosting the top line. In fact, the company has an impressive record with respect to earnings per share, having outshined the Zacks Consensus Estimate in each of the last four quarters. However, earnings estimates have been stable lately ahead of the company’s fourth-quarter earnings release.”
  • 1/11/2018 – Citrix Systems was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating. They now have a $93.00 price target on the stock, up previously from $90.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/8/2018 – Citrix Systems was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $90.00 price target on the stock.
  • 1/5/2018 – Citrix Systems was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/4/2018 – Citrix Systems had its “buy” rating reaffirmed by analysts at Robert W. Baird.
  • 1/2/2018 – Citrix Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Citrix Systems have underperformed its industry over the past year due to multiple headwinds. High costs are limiting bottom-line growth at the company. Declining revenues from products also pose a severe challenge to the company.  Moreover, frequent management changes at the company have the potential to shake investors’ confidence in the stock. The company's results are also liable to be affected by foreign exchange movements  as it continues to foray into non-U.S. markets. However, the company's recent decision to clear a share buyback program, worth more than $2 billion, is encouraging. We are also impressed by the its efforts to expand product portfolio.”
  • 12/26/2017 – Citrix Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Citrix Systems have underperformed its industry on a year-to-date basis due to multiple headwinds. High costs are limiting bottom-line growth at the company. Declining revenues from products also pose a severe challenge to the company.  Moreover, frequent management changes at the company have the potential to shake investors’ confidence in the stock. The company's results are also liable to be affected by foreign exchange movements  as it continues to foray into non-U.S. markets. However, the company's recent decision to clear a share buyback program, worth more than $2 billion, is encouraging. We are also impressed by the its efforts to expand product portfolio.”

Citrix Systems, Inc. (NASDAQ:CTXS) traded up $1.22 on Monday, hitting $85.75. 2,010,400 shares of the stock were exchanged, compared to its average volume of 1,507,571. Citrix Systems, Inc. has a one year low of $73.33 and a one year high of $95.00. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.14. The firm has a market cap of $12,920.41, a P/E ratio of -357.29, a P/E/G ratio of 2.72 and a beta of 1.34.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.06. Citrix Systems had a negative net margin of 0.73% and a positive return on equity of 38.56%. The company had revenue of $777.90 million for the quarter, compared to the consensus estimate of $778.49 million. During the same period last year, the company posted $1.61 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. equities analysts predict that Citrix Systems, Inc. will post 3.88 earnings per share for the current fiscal year.

In related news, SVP Rotterdam Jeroen Van sold 8,530 shares of Citrix Systems stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total transaction of $721,467.40. Following the sale, the senior vice president now directly owns 67,122 shares in the company, valued at approximately $5,677,178.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Calderoni sold 60,000 shares of Citrix Systems stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $85.61, for a total transaction of $5,136,600.00. Following the sale, the insider now owns 178,706 shares in the company, valued at $15,299,020.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,030 shares of company stock worth $8,341,942. 0.44% of the stock is currently owned by corporate insiders.

Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.

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