Needham & Company Maintains a 'Buy' on Citrix Systems (CTXS); Solid Results Despite Backdrop
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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 'Buy' on Citrix Systems (NASDAQ: CTXS) price target of $85.00 (from $90.00).
Analyst, Scott Zeller, said, "The Citrix JuneQ results were solid, considering the macro difficulties and overall sluggishness of Europe, which we have heard about from several companies. Results, though solid, were likely viewed as anemic given the 'low bar' CTXS started the year with for guidance; we also believe the Americas +11% y/y growth rate and cautious comments on Federal will raise questions among investors. In the core Desktop Solutions business, license was only +7% y/y, which also will raise questions – we note, however, that Desktop was +13% y/y at $343m for the division, which is solid but unspectacular. Long-term, we believe this division and the “mobility” theme will drive business, as 80% of license in division was “new license” (not maintenance) and signals 'new projects' at customer sites."
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 $75.11 yesterday.
Analyst, Scott Zeller, said, "The Citrix JuneQ results were solid, considering the macro difficulties and overall sluggishness of Europe, which we have heard about from several companies. Results, though solid, were likely viewed as anemic given the 'low bar' CTXS started the year with for guidance; we also believe the Americas +11% y/y growth rate and cautious comments on Federal will raise questions among investors. In the core Desktop Solutions business, license was only +7% y/y, which also will raise questions – we note, however, that Desktop was +13% y/y at $343m for the division, which is solid but unspectacular. Long-term, we believe this division and the “mobility” theme will drive business, as 80% of license in division was “new license” (not maintenance) and signals 'new projects' at customer sites."
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 $75.11 yesterday.
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