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Citrix Systems Inc. (CTXS) Maintains Buy Rating
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Posted on 01/28/10 at 3:11pm by Ed Liston
Analysts at Broadpoint AmTech have maintained their Buy rating for Citrix Systems Inc. (NASDAQ: CTXS).
Citrix Systems reported strong results for the fourth quarter. The company reported revenue of $451 million which came in well ahead of consensus of $431.5 million. Non GAAP EPS stood at $0.66. The key drivers for better than expected revenue were the strong demand for XenDesktop, re-acceleration in Application Networking and steady growth in online services.
Analysts believe that with XenDesktop 4, the company has one of the most convincing product cycles in software. Analysts at Broadpoint AmTech have set a price target of $54 for Citrix Systems Inc.
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