Research Analysts’ Weekly Ratings Changes for Citrix Systems (CTXS)
Citrix Systems (NASDAQ: CTXS) was the recipient of a ratings changes during the seven days:
- Citrix Systems had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $75.00 price target on the stock.
- Citrix Systems had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $96.00 price target on the stock.
- Citrix Systems had its price target lowered by analysts at JPMorgan Chase to $56.00. They wrote, “CTXS reported disappointing SepQ results highlighted by a y/y decline in Desktop Solutions license revenue of 1% and total company license revenue growth of only 1%. Management spoke candidly of its own disappointment with license bookings in the quarter, citing a difficult macro environment. We think such an environment simply exacerbates the challenges management faces in convincing the masses of corporations to adopt desktop virtualization – a technology we believe will remain a niche solution for some time to come.”
- Citrix Systems had its “neutral” rating reaffirmed by analysts at Goldman Sachs. They now have a $78.00 price target on the stock.
- Citrix Systems had its price target lowered by analysts at Stifel Nicolaus to $83.00. They wrote, “We arrive at our $83 target price by applying a 23.5x multiple to our CY13 NOPAT estimate of $3.12 (EPS of $3.19) and then adding the roughly $10 per share in cash (discounted) we expect the company to deliver in CY13. This multiple is below Citrix’s historical average and in-line with infrastructure peers. We believe the multiple is warranted given the potential for upside to numbers stemming from accelerating revenue growth within the desktop and network businesses, the benefit the company should realize from recent product introductions, and expanding productivity from investments in distribution.”
Shares of Citrix Systems, Inc. opened at 62.82 on Monday. Citrix Systems, Inc. has a 52 week low of $56.79 and a 52 week high of $87.99. The company has a market cap of $11.915 billion and a P/E ratio of 34.46.
Citrix Systems, Inc. designs, develops and markets technology solutions that enable information technology (IT) services.