Jefferies Downgrades Citrix Systems to Underperform

Brokerage firm Jefferies Downgrades its rating on Citrix Systems(NASDAQ:CTXS). The shares have been rated Underperform. Previously, the analysts had a Hold rating on the shares. The rating by Jefferies was issued on Aug 1, 2016.

In a different note, On Jul 28, 2016, Morgan Stanley said it Maintains its rating on Citrix Systems. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jul 27, 2016, Stifel Nicolaus said it Downgrades its rating on Citrix Systems. The shares have been rated ‘Hold’ by the firm. On Jul 27, 2016, Barclays said it Maintains its rating on Citrix Systems. In the research note, the firm Raises the price-target to $90.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 27, 2016, Citigroup said it Maintains its rating on Citrix Systems. In the research note, the firm Raises the price-target to $93.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 27, 2016, Goldman Sachs said it Terminates its rating on Citrix Systems. On Jul 27, 2016, Morgan Stanley said it Maintains its rating on Citrix Systems. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Underweight’ by the firm.

Citrix Systems (CTXS) shares turned negative on Mondays trading session with the shares closing down -0.05 points or -0.06% at a volume of 14,36,912. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $85.7. The peak price level was also seen at $85.7 while the days lowest was $84.76. Finally the shares closed at $84.95. The 52-week high of the shares is $90 while the 52-week low is $60.91. According to the latest information available, the market cap of the company is $13,176 M.

Citrix Systems(CTXS) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $842.98M. Analysts had an estimated revenue of $816.56M. Earnings per share were $1.20. Analysts had estimated an EPS of $1.14.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Jessica Soisson (VP & Corporate Controller) sold 6,140 shares at $89.01 per share price.Also, On Jun 30, 2016, Murray J Demo (director) sold 1,000 shares at $79.49 per share price.On May 26, 2016, David J Henshall (EVP, COO & CFO) sold 24,139 shares at $85.00 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.

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