Looking ahead to next year, Citrix is expecting net revenue to increase between 1% to 2% over year-ago levels, or roughly $3.28 billion-3.31 billion based on the midpoint of the company’s FY15 guidance, trailing the Capital IQ consensus for $3.4 billion in revenue next year. More broadly, shares of tech stocks in the S&P 500 were rising nearly 0.7% in recent trade. Piper Jaffray reaffirmed a “hold” rating on shares of Citrix Systems in a report on Thursday, October 15th.
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The technical numbers for Citrix Systems, Inc. are as follows: It has a simple moving average 50 of 5.34%, a 52 week high of -5.64%, and a 52 week low of 40.64%.
CTXS shares were down over 9% at $71.51 a share, earlier falling to a session low of $33.27 a share.
Bhavan Suri, a William Blair analyst, predicted the spinoff in a research note last week. The brokerage firm raises the price target from $78 per share to $82 per share. The stock was sold at an average price of $81.63, for a total value of $163,260.00. Now the company Insiders own 0.93% of Citrix Systems, Inc. shares according to the proxy statements. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The move will also include the loss of 1,000 jobs outside of the GoTo operation. Following the completion of the purchase, the insider now directly owns 1,982,160 shares of the company’s stock, valued at $134,905,809.60. The disclosure for this sale can be found here. The company has a market cap of $12.01 billion.
Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings results on Wednesday, October 21st. Excluding the impact of charges taken during the third quarter of 2015, the company reported non-GAAP net income of $226 million, or $0.35 per diluted share, compared to third quarter 2014 non-GAAP net income of $236 million, or $0.37 per diluted share. The announced operational and strategic initiatives were largely in line with our previous expectations, and we continue to believe that these initiatives do not fix the company’s overall fundamentally slow‐growth business and leave little upside potential for the stock, in our opinion (especially given that investors were probably looking for roughly $5 in EPS in 2016 and $6 in EPS in 2017). On average, analysts anticipate that Citrix Systems will post $3.80 earnings per share for the current fiscal year.
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Citrix Systems Inc provides virtualization, networking and cloud infrastructure solutions. 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 enterprise customers, over the Web, and through systems integrators (Sis) in addition to indirectly through value-added resellers (VARs), value-added distributors (VADs) and original equipment manufacturers (OEMs).
