Citrix Systems, Inc. (CTXS) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Citrix Systems, Inc. (NASDAQ:CTXS) from a sell rating to a hold rating in a report released 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.”
A number of other research firms have also issued reports on CTXS. Mizuho reissued a buy rating and issued a $94.00 target price (up previously from $92.00) on shares of Citrix Systems in a report on Wednesday, October 25th. Stifel Nicolaus dropped their target price on Citrix Systems from $77.00 to $76.00 and set a hold rating on the stock in a report on Thursday, October 26th. Citigroup Inc. dropped their target price on Citrix Systems from $96.00 to $94.00 and set a buy rating on the stock in a report on Friday, October 27th. Royal Bank Of Canada reissued a hold rating and issued a $85.00 target price on shares of Citrix Systems in a report on Tuesday, October 10th. Finally, BidaskClub lowered Citrix Systems from a hold rating to a sell rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $88.00.
Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.18. The business 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 company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of CTXS. Bank of Montreal Can boosted its position in Citrix Systems by 35.6% during the second quarter. Bank of Montreal Can now owns 5,036,419 shares of the cloud computing company’s stock worth $400,799,000 after purchasing an additional 1,321,350 shares in the last quarter. BT Investment Management Ltd purchased a new stake in Citrix Systems during the second quarter worth $93,653,000. Koch Industries Inc. lifted its position in shares of Citrix Systems by 12,490.5% in the second quarter. Koch Industries Inc. now owns 724,333 shares of the cloud computing company’s stock valued at $715,000 after acquiring an additional 718,580 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Citrix Systems by 1,955.1% in the second quarter. Bank of Nova Scotia now owns 734,618 shares of the cloud computing company’s stock valued at $58,461,000 after acquiring an additional 698,872 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of Citrix Systems by 28,024.7% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 695,243 shares of the cloud computing company’s stock valued at $55,327,000 after acquiring an additional 692,771 shares in the last quarter. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Citrix Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citrix Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.