Citrix Systems (NASDAQ:CTXS)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork reports. They currently have a $81.00 price target on the stock, up from their previous price target of $72.00. Stifel Nicolaus’ target price would indicate a potential upside of 19.15% from the stock’s previous close.
The analysts wrote, “Coming off a mixed 1Q13 print, Citrix rebounded in 2Q13, with a strong revenue, EPS, CFFO, and bookings beat that sent shares up 6% AH. What pleases us even more is that Citrix was able to deliver 21% Y/Y license growth on impressive NetScaler strength, despite a rather pedestrian desktop license quarter (up 2% Y/Y, below estimates). We continue to believe the modest growth in the desktop business is due to transitory/cyclical factors (the transformational nature of desktop virtualization leads to pushed deals in a weak-macro; customer pause due to product refreshes [XenDesktop7] and new products [XenMobile]) and that easing comps, improving salesforce productivity, and investments sets up well for accelerating growth in 2H13 and beyond. Our bottom-line is that Citrix sits at the nexus of broad, secular-trends (enterprise mobility, cloud infrastructure,collaboration) that solve evolving and real CIO pain-points. Given this backdrop, we believe shares remain attractive and raise our Target Price to $81 from $72.”
Citrix Systems (NASDAQ: CTXS) opened at 67.48 on Thursday. Citrix Systems has a 52-week low of $56.57 and a 52-week high of $82.61. The stock’s 50-day moving average is currently $63.. The company has a market cap of $12.627 billion and a price-to-earnings ratio of 37.35.
Citrix Systems (NASDAQ:CTXS) last released its earnings data on Wednesday, July 24th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.03. The company had revenue of $730.00 million for the quarter, compared to the consensus estimate of $710.19 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Citrix Systems has set its Q3 guidance at $0.72-0.73 EPS and its FY13 guidance at $3.09-3.11 EPS. On average, analysts predict that Citrix Systems will post $3.08 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CTXS. Analysts at Credit Suisse raised their price target on shares of Citrix Systems to $75.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Citrix Systems from $73.00 to $76.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Finally, analysts at JG Capital upgraded shares of Citrix Systems from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday. They now have a $78.00 price target on the stock.
Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.15.
Citrix Systems, Inc designs, develops and markets technology solutions that enable information technology (NASDAQ: CTXS) services.
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