Citrix Systems (NASDAQ:CTXS) Price Target Cut to $80.00 by Analysts at Barclays

Citrix Systems (NASDAQ:CTXS) had its price target reduced by Barclays from $88.00 to $80.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have an underweight rating on the cloud computing company’s stock.

Several other brokerages have also recently issued reports on CTXS. The Goldman Sachs Group assumed coverage on Citrix Systems in a research report on Thursday, December 16th. They set a sell rating and a $75.00 target price on the stock. Morgan Stanley cut Citrix Systems from an equal weight rating to an underweight rating and cut their price objective for the stock from $90.00 to $85.00 in a research report on Friday, November 5th. William Blair cut Citrix Systems from an outperform rating to a market perform rating in a research report on Tuesday, October 12th. Citigroup cut Citrix Systems from a buy rating to a neutral rating and cut their price objective for the stock from $140.00 to $115.00 in a research report on Thursday, October 7th. Finally, Royal Bank of Canada cut their price objective on Citrix Systems from $110.00 to $105.00 and set a sector perform rating on the stock in a research report on Friday, November 5th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $99.14.

Shares of NASDAQ:CTXS opened at $95.80 on Wednesday. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.22 and a beta of 0.08. The company has a quick ratio of 0.65, a current ratio of 0.66 and a debt-to-equity ratio of 8.32. Citrix Systems has a 12-month low of $78.07 and a 12-month high of $145.19. The business’s 50 day moving average is $88.88 and its 200 day moving average is $99.73.

Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Thursday, November 4th. The cloud computing company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.31. The company had revenue of $778.45 million for the quarter, compared to analysts’ expectations of $770.55 million. Citrix Systems had a return on equity of 155.24% and a net margin of 9.97%. Citrix Systems’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. As a group, equities research analysts expect that Citrix Systems will post 2.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 21st. Shareholders of record on Tuesday, December 7th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, December 6th. This represents a $1.48 annualized dividend and a dividend yield of 1.54%. Citrix Systems’s payout ratio is presently 58.96%.

Several institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management raised its stake in shares of Citrix Systems by 19.5% in the fourth quarter. Spire Wealth Management now owns 1,851 shares of the cloud computing company’s stock valued at $175,000 after buying an additional 302 shares during the period. DNB Asset Management AS raised its stake in shares of Citrix Systems by 30.3% in the fourth quarter. DNB Asset Management AS now owns 48,684 shares of the cloud computing company’s stock valued at $4,605,000 after buying an additional 11,311 shares during the period. Camelot Portfolios LLC bought a new stake in shares of Citrix Systems in the fourth quarter valued at $374,000. Financial Advisors Network Inc. raised its stake in shares of Citrix Systems by 61.6% in the third quarter. Financial Advisors Network Inc. now owns 22,700 shares of the cloud computing company’s stock valued at $2,036,000 after buying an additional 8,652 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Citrix Systems by 24.5% in the third quarter. UBS Asset Management Americas Inc. now owns 1,228,213 shares of the cloud computing company’s stock valued at $131,873,000 after buying an additional 241,365 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.

Citrix Systems Company Profile

Citrix Systems, Inc engages in the design, development, and marketing of information technology solutions. It provides digital workspace that unifies apps, data, and services. The firm markets and licenses its products directly to customers through web, systems integrators, value-added resellers, and service providers.

Further Reading: Example of operating income, EBIT and EBITDA

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