Citrix Systems (NASDAQ:CTXS) had its price target decreased by investment analysts at Robert W. Baird from $120.00 to $105.00 in a research note issued on Thursday, October 25th, Stock Target Advisor reports. The firm presently has a neutral rating on the cloud computing companys stock. Robert W. Bairds price target would suggest a potential upside of 1.78% from the stocks current price.
A number of other brokerages also recently commented on CTXS. BidaskClub raised Citrix Systems from a hold rating to a buy rating in a research report on Saturday, September 1st. Stifel Nicolaus lifted their price objective on Citrix Systems from $105.00 to $120.00 and gave the company a hold rating in a research report on Thursday, July 26th. Morgan Stanley lifted their price objective on Citrix Systems from $92.00 to $101.00 and gave the company an underweight rating in a research report on Thursday, July 26th. Cowen reaffirmed a hold rating and issued a $120.00 price objective on shares of Citrix Systems in a research report on Thursday, July 26th. Finally, Barclays lifted their price objective on Citrix Systems from $112.00 to $114.00 and gave the company an equal weight rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $113.60.
Citrix Systems stock opened at $103.16 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 2.53 and a beta of 1.19. Citrix Systems has a fifty-two week low of $81.11 and a fifty-two week high of $116.82.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.15. The company had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. Citrix Systemss revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. On average, research analysts anticipate that Citrix Systems will post 4.38 EPS for the current year.
Citrix Systems declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 24th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the companys management believes its shares are undervalued.
In related news, VP Jessica Soisson sold 1,136 shares of Citrix Systems stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $113.78, for a total value of $129,254.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rotterdam Jeroen Van sold 7,766 shares of Citrix Systems stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $109.78, for a total value of $852,551.48. Following the completion of the transaction, the executive vice president now owns 59,685 shares in the company, valued at approximately $6,552,219.30. The disclosure for this sale can be found here. Insiders sold 11,030 shares of company stock worth $1,222,865 in the last quarter. 0.56% of the stock is owned by insiders.
This article provided by NewsEdge.