Needham & Company Reiterates a 'Buy' on Citrix Systems (CTXS)
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Price: $103.90 --0%
Rating Summary:
12 Buy, 19 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
12 Buy, 19 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Needham & Company reiterates a 'Buy' on Citrix Systems (NASDAQ: CTXS) price target raised from $85 to $90.
Analyst, Scott Zeller, said, "The Citrix results for MarQ were strong and balanced across geographies, as well as product groupings. We believe the continuing trends of mobility, remote access, and thin desktop (all generally part of cloud computing) are driving results at CTXS. Our field discussion informs us VDI deployments have been gaining momentum, and CTXS’ results show corresponding strength in virtualized desktop solutions (desktop solutions +17% y/y, license +17% y/y). It has been our view that initial guidance from CTXS was overly conservative for CY12 (e.g., flat y/y opmgn), and felt going into earnings CTXS was one of the “cloud names” which left itself room to revise guidance upwards – and the company did just that, raising CY12 from $2490-2510m up to $2530-2560m."
"Our CY12E goes from $2516m and $2.74 up to $2557m and $2.78; our CY13E goes from $2807m and $31.6 up to $2860m and $3.21 EPS."
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 $77.17 yesterday.
Analyst, Scott Zeller, said, "The Citrix results for MarQ were strong and balanced across geographies, as well as product groupings. We believe the continuing trends of mobility, remote access, and thin desktop (all generally part of cloud computing) are driving results at CTXS. Our field discussion informs us VDI deployments have been gaining momentum, and CTXS’ results show corresponding strength in virtualized desktop solutions (desktop solutions +17% y/y, license +17% y/y). It has been our view that initial guidance from CTXS was overly conservative for CY12 (e.g., flat y/y opmgn), and felt going into earnings CTXS was one of the “cloud names” which left itself room to revise guidance upwards – and the company did just that, raising CY12 from $2490-2510m up to $2530-2560m."
"Our CY12E goes from $2516m and $2.74 up to $2557m and $2.78; our CY13E goes from $2807m and $31.6 up to $2860m and $3.21 EPS."
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 $77.17 yesterday.
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