Citrix Systems (NASDAQ:CTXS) Price Target Lowered to $105.00 at Robert W. Baird

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Citrix Systems (NASDAQ:CTXS) had its target price lowered by stock analysts at Robert W. Baird from $120.00 to $105.00 in a report issued on Thursday, October 25th, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the cloud computing company’s stock. Robert W. Baird’s price target suggests a potential downside of 1.88% from the company’s current price.

Several other analysts have also commented on the stock. Citigroup lifted their price target on shares of Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Bank of America cut their target price on Citrix Systems from $123.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. BidaskClub raised Citrix Systems from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Wedbush assumed coverage on Citrix Systems in a research report on Thursday, October 18th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, Barclays boosted their target price 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 assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Citrix Systems currently has a consensus rating of “Hold” and a consensus target price of $113.93.

Shares of Citrix Systems stock traded down $0.05 on Thursday, hitting $107.01. 1,009,160 shares of the company were exchanged, compared to its average volume of 2,161,472. The stock has a market cap of $14.29 billion, a P/E ratio of 25.85, a P/E/G ratio of 2.65 and a beta of 1.36. Citrix Systems has a 1-year low of $83.11 and a 1-year high of $116.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82.

Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The business had revenue of $732.47 million for the quarter, compared to analysts’ expectations of $722.76 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts expect that Citrix Systems will post 4.38 EPS for the current fiscal year.

Citrix Systems declared that its board has initiated a stock repurchase plan on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Citrix Systems 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Calderoni sold 2,128 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $113.28, for a total transaction of $241,059.84. Following the completion of the transaction, the insider now owns 145,790 shares of the company’s stock, valued at approximately $16,515,091.20. The disclosure for this sale can be found here. Insiders sold 21,641 shares of company stock valued at $2,315,751 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in Citrix Systems during the third quarter worth about $102,000. Fort L.P. purchased a new position in Citrix Systems during the second quarter worth about $120,000. Piedmont Investment Advisors LLC purchased a new position in Citrix Systems in the second quarter valued at about $153,000. Itau Unibanco Holding S.A. purchased a new position in Citrix Systems in the second quarter valued at about $163,000. Finally, Advisors Preferred LLC purchased a new position in Citrix Systems in the second quarter valued at about $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.

Read More: How does a reverse stock split work?

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Analyst Recommendations for Citrix Systems (NASDAQ:CTXS)

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