Zacks Investment Research Lowers Citrix Systems, Inc. (CTXS) to Sell
Zacks Investment Research lowered shares of Citrix Systems, Inc. (NASDAQ:CTXS) from a hold rating to a sell rating in a research note published on Wednesday 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 is likely to be no different. The company has issued lackluster views for third quarter of 2017. The company expects expects net revenues in the band of $685-$695 million. Earnings per share (on an adjusted basis) are projected in the range of $1.02-$1.05. Both figures compare unfavorably to those reported a year-ago. Declining revenues from products and licenses also pose a severe challenge to the company. We are, however, impressed by the company's efforts to expand its product portfolio. Its strong customer base is an added positive.”
Other equities analysts also recently issued research reports about the stock. MKM Partners reiterated a buy rating and issued a $90.00 target price (down previously from $95.00) on shares of Citrix Systems in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a hold rating and issued a $77.00 target price on shares of Citrix Systems in a research note on Wednesday, August 9th. Royal Bank Of Canada reiterated a hold rating and issued a $85.00 target price on shares of Citrix Systems in a research note on Monday, July 31st. BTIG Research reiterated a neutral rating on shares of Citrix Systems in a research note on Wednesday, August 16th. Finally, Wells Fargo & Company upgraded shares of Citrix Systems from a market perform rating to an outperform rating and lifted their target price for the stock from $82.50 to $95.00 in a research note on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $89.45.
Citrix Systems (NASDAQ:CTXS) traded down 0.26% during mid-day trading on Wednesday, reaching $79.47. 928,215 shares of the company’s stock were exchanged. Citrix Systems has a 52-week low of $64.79 and a 52-week high of $87.99. The company has a 50-day moving average of $76.65 and a 200-day moving average of $80.42. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 26.78 and a beta of 1.49.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, August 2nd. The cloud computing company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $693.00 million for the quarter, compared to analysts’ expectations of $690.83 million. Citrix Systems had a return on equity of 31.07% and a net margin of 15.08%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Equities research analysts anticipate that Citrix Systems will post $4.63 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the business. Artemis Investment Management LLP bought a new stake in Citrix Systems during the second quarter valued at approximately $9,003,000. Eqis Capital Management Inc. lifted its position in Citrix Systems by 10.8% during the second quarter. Eqis Capital Management Inc. now owns 16,216 shares of the cloud computing company’s stock valued at $1,290,000 after purchasing an additional 1,579 shares during the last quarter. Banque Pictet & Cie SA lifted its position in Citrix Systems by 2.4% during the second quarter. Banque Pictet & Cie SA now owns 81,753 shares of the cloud computing company’s stock valued at $6,506,000 after purchasing an additional 1,916 shares during the last quarter. Koch Industries Inc. bought a new stake in Citrix Systems during the first quarter valued at approximately $480,000. Finally, Elliott Management Corp lifted its position in Citrix Systems by 5.7% during the first quarter. Elliott Management Corp now owns 7,091,000 shares of the cloud computing company’s stock valued at $591,318,000 after purchasing an additional 384,456 shares during the last quarter. Institutional investors and hedge funds own 93.62% 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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