Citrix Systems (CTXS) is Downgraded by Jefferies to Underperform

Citrix Systems (CTXS) was Downgraded by Jefferies to ” Underperform”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Citrix Systems. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Citrix Systems was Downgraded by Stifel to ” Hold” on Jul 27, 2016. Company shares were Reiterated by Mizuho on Jul 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 90 from a previous price target of $80 .

On the company’s financial health, Citrix Systems reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.92. The company had revenue of $826.00 million for the quarter, compared to analysts expectations of $787.97 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Citrix Systems opened for trading at $88.99 and hit $89.21 on the upside on Friday, eventually ending the session at $89.13, with a gain of 0.08% or 0.07 points. The heightened volatility saw the trading volume jump to 19,14,266 shares. Company has a market cap of $13,824 M.

In a different news, on Jun 30, 2016, Murray J Demo (director) sold 1,000 shares at $79.49 per share price. According to the SEC, on May 26, 2016, David J Henshall (EVP, COO & CFO) sold 24,139 shares at $85.00 per share price. On May 13, 2016, William Burley (CVP & Act. GM, Workspace Serv.) sold 1,253 shares at $83.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Citrix Systems Inc. provides virtualization mobility management networking and SaaS solutions to businesses. The Company’s solutions offer secure mobile workspaces that provide people with access to apps desktops data and communications on any device over any network or cloud. It markets and licenses its products directly to customers. The Company operates through two segments: Enterprise and Service Provider division and the Mobility Apps division. Enterprise and Service Provider division’s Workspace services include mobile platforms desktop and application virtualization citrix workspace suite and delivery networking. Its Mobility Apps applications include communications cloud documents cloud and workflow cloud. It also offers Professional Services and Technology products which include Citrix HDX FlexCast Citrix personalization technologies NetScaler Software Packet Engine ByteMobile Adaptive Traffic Management System XenMobile and Citrix Internet among others.

Citrix Systems

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