MKM Partners Reaffirms Buy Rating for Citrix Systems, Inc. (NASDAQ:CTXS)

Citrix Systems, Inc. (NASDAQ:CTXS)‘s stock had its “buy” rating reaffirmed by equities researchers at MKM Partners in a note issued to investors on Wednesday, August 9th. They presently have a $90.00 price target on the cloud computing company’s stock, down from their previous price target of $95.00. MKM Partners’ price target would suggest a potential upside of 20.47% from the stock’s current price.

Several other research firms have also recently weighed in on CTXS. Robert W. Baird raised shares of Citrix Systems from a “neutral” rating to an “outperform” rating and raised their target price for the company from $85.00 to $90.00 in a research note on Thursday, April 27th. BTIG Research reissued a “neutral” rating on shares of Citrix Systems in a research note on Monday, April 24th. Jefferies Group LLC decreased their target price on shares of Citrix Systems from $62.00 to $61.00 and set an “underperform” rating for the company in a research note on Friday, April 28th. Deutsche Bank AG decreased their target price on shares of Citrix Systems from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Finally, BidaskClub cut shares of Citrix Systems from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Citrix Systems has a consensus rating of “Hold” and a consensus target price of $89.25.

Shares of Citrix Systems (NASDAQ:CTXS) opened at 74.71 on Wednesday. The company’s 50 day moving average is $78.87 and its 200 day moving average is $81.06. The company has a market capitalization of $11.32 billion, a P/E ratio of 25.17 and a beta of 1.49. Citrix Systems has a 12-month low of $64.11 and a 12-month high of $87.99.

Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, August 2nd. The cloud computing company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.02. Citrix Systems had a net margin of 15.08% and a return on equity of 31.07%. The firm had revenue of $693 million during the quarter, compared to the consensus estimate of $690.83 million. During the same period in the prior year, the business posted $1.20 earnings per share. Citrix Systems’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Citrix Systems will post $4.63 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. increased its position in Citrix Systems by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 134,785 shares of the cloud computing company’s stock worth $11,239,000 after buying an additional 4,458 shares during the period. Raymond James Trust N.A. increased its position in Citrix Systems by 14.3% in the first quarter. Raymond James Trust N.A. now owns 3,604 shares of the cloud computing company’s stock worth $300,000 after buying an additional 452 shares during the period. Creative Planning increased its position in Citrix Systems by 12.4% in the first quarter. Creative Planning now owns 3,181 shares of the cloud computing company’s stock worth $265,000 after buying an additional 351 shares during the period. Gulf International Bank UK Ltd increased its position in Citrix Systems by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 48,935 shares of the cloud computing company’s stock worth $4,080,000 after buying an additional 600 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Citrix Systems by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 1,396 shares of the cloud computing company’s stock worth $113,000 after buying an additional 35 shares during the period. 95.80% of the stock is owned by institutional investors and hedge funds.

About Citrix Systems

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.

Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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