Citrix Systems, Inc. (CTXS) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Citrix Systems, Inc. (NASDAQ:CTXS) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Shares of Citrix Systems have underperformed its industry on a year-to-date basis due to multiple headwinds. High costs have hurt the bottom line for quite some time and the third quarter of 2017 no different. The bottom line declined 7.6% in the third quarter from the year-ago figure due to high costs. Declining revenues from products also pose a severe challenge to the company. Consequently, the top line also shrunk on a year-over-year basis. However, revenues from Software-as-a-Service (SaaS) were impressive in the third quarter of 2017. We are also impressed by the company's efforts to expand its product portfolio. Its strong customer base is an added positive.”
Several other analysts have also issued reports on CTXS. BidaskClub lowered Citrix Systems from a hold rating to a sell rating in a research note on Friday, July 28th. Royal Bank Of Canada restated a hold rating and issued a $85.00 price objective on shares of Citrix Systems in a research note on Monday, July 31st. Stifel Nicolaus restated a hold rating and issued a $77.00 price objective on shares of Citrix Systems in a research note on Thursday, August 3rd. Barclays PLC restated an overweight rating and issued a $90.00 price objective (up previously from $87.00) on shares of Citrix Systems in a research note on Thursday, August 3rd. Finally, MKM Partners restated a buy rating and issued a $90.00 price objective (down previously from $95.00) on shares of Citrix Systems in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $88.00.
Citrix Systems (NASDAQ CTXS) traded up 0.27% during mid-day trading on Monday, reaching $82.61. The company’s stock had a trading volume of 2,024,600 shares. The stock has a market cap of $12.52 billion, a PE ratio of 27.83 and a beta of 1.49. Citrix Systems has a 52-week low of $65.49 and a 52-week high of $87.99. The company has a 50 day moving average of $79.27 and a 200-day moving average of $80.24.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. The firm had revenue of $691.00 million for the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. Equities analysts forecast that Citrix Systems will post $4.79 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CTXS. Greenwood Capital Associates LLC lifted its stake in shares of Citrix Systems by 12.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,689 shares of the cloud computing company’s stock valued at $214,000 after acquiring an additional 289 shares during the last quarter. Intact Investment Management Inc. bought a new position in Citrix Systems during the 3rd quarter worth $215,000. Colony Group LLC bought a new position in Citrix Systems during the 2nd quarter worth $228,000. New Amsterdam Partners LLC NY bought a new position in Citrix Systems during the 2nd quarter worth $231,000. Finally, Atria Investments LLC bought a new position in Citrix Systems during the 2nd quarter worth $235,000. Institutional investors own 93.32% of the company’s stock.
Citrix Systems Company Profile
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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