Nomura Securities maintains a 'Neutral' on Citrix Systems (CTXS); Uncertain Macro and Valuation Keep Us Sidelined
Tweet Send to a FriendGet Alerts CTXS Hot Sheet
Price: $66.84 +0.01%
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CTXS Now!
Nomura Securities maintains a 'Neutral' on Citrix Systems (NASDAQ: CTXS) price target of $86.00.
Analyst, Rick Sherlund, said, "Citrix reported good overall 2Q 12 results that were overshadowed by a slowing in license revenue growth, reflective of a tougher environment. License revenue grew 9.7% y/y, c.3% below consensus and below the 18.7% shown in Q1 and 20% for all of 2011. The license miss was driven by a tougher environment, particularly for the transformational desktop business. Desktop Solutions license revenues (which include XenDesktop and XenApp) came in at an estimated $125mn, an increase of 7% over the year prior, compared with 17% in the March quarter. Overall company billings of $661mn were up 16%, 2% above Street expectations of $650mn, or 14% y/y. Deferred revenues were up 24%, in line. Management provided 3Q 12 and FY 12 revenue guidance that was a bit above the Street at the mid-point, with upside in services in Q2 expected to continue. Total revenue is expected to be in a range of $645mn to $655mn, or up 14% to 16% y/y, compared with the Street at $646mn, or up 14% y/y."
FY12E EPS from $2.75 to $2.79; FY13E EPS from $3.11 to $3.16.
For an analyst ratings summary and ratings history on Citrix Systems click here. For more ratings news on Citrix Systems click here.
Shares of Citrix Systems closed at $74.22 yesterday, with a 52 week range of $50.21-$87.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Rick Sherlund, said, "Citrix reported good overall 2Q 12 results that were overshadowed by a slowing in license revenue growth, reflective of a tougher environment. License revenue grew 9.7% y/y, c.3% below consensus and below the 18.7% shown in Q1 and 20% for all of 2011. The license miss was driven by a tougher environment, particularly for the transformational desktop business. Desktop Solutions license revenues (which include XenDesktop and XenApp) came in at an estimated $125mn, an increase of 7% over the year prior, compared with 17% in the March quarter. Overall company billings of $661mn were up 16%, 2% above Street expectations of $650mn, or 14% y/y. Deferred revenues were up 24%, in line. Management provided 3Q 12 and FY 12 revenue guidance that was a bit above the Street at the mid-point, with upside in services in Q2 expected to continue. Total revenue is expected to be in a range of $645mn to $655mn, or up 14% to 16% y/y, compared with the Street at $646mn, or up 14% y/y."
FY12E EPS from $2.75 to $2.79; FY13E EPS from $3.11 to $3.16.
For an analyst ratings summary and ratings history on Citrix Systems click here. For more ratings news on Citrix Systems click here.
Shares of Citrix Systems closed at $74.22 yesterday, with a 52 week range of $50.21-$87.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- BTIG Starts Ambac Financial (AMBC) at Buy, Interesting Play with 'Optionality'
- Lazard Cuts PT on Aruba (ARUN) to $18; Cisco Pressure Lingers, But Fundamentals Solid
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Nomura
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
