Needham & Company Maintains a 'Hold' on Citrix Systems (CTXS) Following Analyst Day
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Price: $103.90 --0%
Rating Summary:
12 Buy, 19 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 19 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Citrix Systems (NASDAQ: CTXS).
Needham analyst says, "The Citrix analyst day delivered the message that 2010 was a year of early interest in XenDesktop and virtualization, and that 2011 is shaping up to be a year of acceleration of virtualization-related technologies. It is our view that interest in XenDesktop is driven by the “permanent” upgrade program which the company has put in-place since late CY10, and incentivizes existing customers to upgrade to Platinum due to pricing advantages, as well as “new features” including WAN optimization (newly included since MarQ11). We also believe there is increasing interest in XenDesktop due to the iPad effect and overall desire for executives to make their workforces more mobile, as well as the security/control and ROI cost savings drivers. We also like how CTXS is increasing activity with key integrators (8 of them) who drive larger, more complex and strategic deals (+58% rev gwth thru SIs CY09-10). In sum, we believe the CTXS franchise is solidly a mid-teens grower due to the above mentioned demand drivers."
For more ratings news on Citrix Systems click here and for the rating history of Citrix Systems click here.
Shares of Citrix Systems closed at $82.44 yesterday.
Needham analyst says, "The Citrix analyst day delivered the message that 2010 was a year of early interest in XenDesktop and virtualization, and that 2011 is shaping up to be a year of acceleration of virtualization-related technologies. It is our view that interest in XenDesktop is driven by the “permanent” upgrade program which the company has put in-place since late CY10, and incentivizes existing customers to upgrade to Platinum due to pricing advantages, as well as “new features” including WAN optimization (newly included since MarQ11). We also believe there is increasing interest in XenDesktop due to the iPad effect and overall desire for executives to make their workforces more mobile, as well as the security/control and ROI cost savings drivers. We also like how CTXS is increasing activity with key integrators (8 of them) who drive larger, more complex and strategic deals (+58% rev gwth thru SIs CY09-10). In sum, we believe the CTXS franchise is solidly a mid-teens grower due to the above mentioned demand drivers."
For more ratings news on Citrix Systems click here and for the rating history of Citrix Systems click here.
Shares of Citrix Systems closed at $82.44 yesterday.
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