$723.07 Million in Sales Expected for Citrix Systems, Inc. (CTXS) This Quarter

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Wall Street analysts predict that Citrix Systems, Inc. (NASDAQ:CTXS) will post $723.07 million in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for Citrix Systems’ earnings. The lowest sales estimate is $720.00 million and the highest is $731.03 million. Citrix Systems posted sales of $690.93 million during the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Citrix Systems will report full year sales of $2.95 billion for the current year, with estimates ranging from $2.94 billion to $2.98 billion. For the next financial year, analysts expect that the business will post sales of $3.06 billion, with estimates ranging from $3.00 billion to $3.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, July 25th. The cloud computing company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.20 by $0.08. The company had revenue of $742.36 million during the quarter, compared to analysts’ expectations of $716.33 million. Citrix Systems had a net margin of 3.23% and a return on equity of 64.77%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $103.00 EPS.

CTXS has been the subject of several research analyst reports. Barclays boosted their price target on shares of Citrix Systems from $112.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. BidaskClub raised shares of Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Cowen reissued a “hold” rating and issued a $120.00 price target on shares of Citrix Systems in a report on Thursday, July 26th. Morgan Stanley boosted their price target on shares of Citrix Systems from $92.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, July 26th. Finally, Robert W. Baird lowered shares of Citrix Systems from an “outperform” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $114.21.

Shares of CTXS stock traded up $0.42 on Friday, hitting $102.53. The stock had a trading volume of 1,889,382 shares, compared to its average volume of 1,660,600. Citrix Systems has a twelve month low of $80.20 and a twelve month high of $116.82. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 2.90 and a beta of 1.19. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.17.

In related news, VP Jessica Soisson sold 1,136 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.78, for a total value of $129,254.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Calderoni sold 2,128 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $110.20, for a total transaction of $234,505.60. Following the completion of the transaction, the insider now directly owns 151,427 shares of the company’s stock, valued at $16,687,255.40. The disclosure for this sale can be found here. Insiders sold a total of 13,158 shares of company stock valued at $1,457,371 in the last three months. 0.56% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fort L.P. acquired a new position in Citrix Systems in the 2nd quarter worth $120,000. Piedmont Investment Advisors LLC acquired a new position in Citrix Systems in the 2nd quarter worth $153,000. Itau Unibanco Holding S.A. acquired a new position in Citrix Systems in the 2nd quarter worth $163,000. Advisors Preferred LLC acquired a new position in Citrix Systems in the 2nd quarter worth $172,000. Finally, Grove Bank & Trust acquired a new position in Citrix Systems in the 2nd quarter worth $200,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Citrix Systems Company Profile

Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.

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Earnings History and Estimates for Citrix Systems (NASDAQ:CTXS)

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