In a report released yesterday, Ittai Kidron from Oppenheimer maintained a Hold rating on Citrix Systems (CTXS). The company’s shares closed yesterday at $108.66.
Kidron noted:
“Citrix reported solid December-quarter results, reporting above-consensus revenue/ EPS, while maintaining FY19 guidance. Overall, management continues to execute well in its transition to SaaS/subscription and in consolidating the portfolio. We’re positive on the transition, yet remind investors of the moving variables in the model. While the transition at Workspace to subscription/SaaS seems to be gaining steam and is on track (if not ahead of plan), it is just beginning at Networking where revenue is highly lumpy (SSP revenue down 50% YoY and expected to remain under pressure in 1Q19). Considering these moving pieces and management’s goal of 50%-55% subscription mix of product bookings in FY19, we expect more volatility ahead, leaving us believing that the shares are appropriately priced. Adjusting estimates for results/ guidance. Maintain Perform.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 26.1% and a 66.8% success rate. Kidron covers the Technology sector, focusing on stocks such as New Relic Inc, Cloudera Inc, and Nutanix Inc.
Currently, the analyst consensus on Citrix Systems is a Hold with an average price target of $108.
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The company has a one-year high of $116.82 and a one-year low of $83.70. Currently, Citrix Systems has an average volume of 1.83M.
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock.
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Citrix Systems, Inc. engages in the design, developnment, and marketing of information technology solutions. It provides digital workspace that unifies apps, data, and services. It markets and licenses its products directly to customers through web, systems integrators, value-added resellers, and service providers.
