Fly Intel: Wall Street's top stories for Thursday » 16:4101/2301/23/20
CMCSA, CMCSK, PG, TRV, MU, WDC, WFC, NFLX, CTXS, JBLU, IMAX, FCX, VFC
Stocks were sliding on…
Early notable gainers among liquid option names on January 23rd » 09:5501/2301/23/20
CTXS, PCG, KMB, KMI, GE
Notable gainers among…
Notable gainers among liquid option names this morning include Citrix (CTXS) $126.71 +7.60, PG&E (PCG) $13.11 +0.56, Kimberly Clark (KMB) $148.66 +4.11, Kinder Morgan (KMI) $21.43 +0.48, and General Electric (GE) $11.63 +0.26.
Citrix price target raised to $123 from $110 at RBC Capital » 09:2401/2301/23/20
RBC Capital analyst…
RBC Capital analyst Matthew Hedberg raised his price target on Citrix to $123, saying its Q4 results reflect "solid" year-end demand in both of its segments as well as an "accelerated" transition to a subscription revenue model. The analyst adds that the execution at Citrix has been good, and he looks to gain more confidence in the company's free cash flow targets in 2020-24 as this transition progresses.
Citrix price target raised to $150 from $130 at Deutsche Bank » 08:4601/2301/23/20
Deutsche Bank analyst…
Deutsche Bank analyst Karl Keirstead raised his price target for Citrix Systems to $150 from $130 following the company's better than expected Q4 results. The analyst believes Citrix's growth troughed in Q3 at zero and will slowly accelerate going forward as the pressure from the license-to-ratable model transition diminishes. He reaffirms a Buy rating on the shares.
Citrix guidance suggests 'uneven' cloud progress, says Morgan Stanley » 08:3201/2301/23/20
Morgan Stanley analyst…
Morgan Stanley analyst Keith Weiss said Citrix Systems' Q4 results were "solid," adding that its ability to exceed revenue expectations despite the headwind of a rising mix of subscription suggests that underlying demand was strong in the quarter. However, the company saw outsized strength from the Strategic Service Provider business, which is characterized by order lumpiness and significant quarterly volatility, and the company's FY20 guidance appears to assume a more conservative subscription bookings mix of 65-75%, which compares to initial expectations for "as high as 80%" given just last quarter, said Weiss. The analyst, who thinks the company's guidance implies "uneven progress" on Citrix's cloud transition, keeps an Underweight rating on the stock, though he bumped up his price target to $113 from $110.
Citrix price target raised to $145 from $135 at Wells Fargo » 08:1601/2301/23/20
Wells Fargo analyst…
Wells Fargo analyst Philip Winslow raised his price target for Citrix to $145 from $135 after the company reported "strong" Q4 revenue, operating margin, and EPS above consensus. The company demonstrated its transition to subscription and cloud revenue continues to progress successfully, he notes, adding that these results reinforce his confidence in Citrix's ability to capitalize on the enterprise opportunity and execute on its platform ambitions, and illustrates the shift to a more direct sales motion over the last 18 months has been effective and is bearing fruit. Winslow has an Overweight rating on the shares.
Citrix price target raised to $110 from $92 at Wedbush » 07:3801/2301/23/20
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives raised his price target for Citrix to $110 from $92 after the company delivered "good results" that beat Street expectations and showed some "nice stability" heading into 2020. However, while the analyst is generally upbeat on Citrix's growth path over the long-term, in the near-term he finds it hard to be bullish on the name at current levels given uncertainty in the field and some clear secular headwinds abound. Ives maintains a Neutral rating on the shares.
Citrix price target raised to $115 from $105 at Jefferies » 05:1901/2301/23/20
Jefferies analyst Brent…
Jefferies analyst Brent Thill raised his price target for Citrix Systems (CTXS) to $115 from $105 after the company reported Q4 results above expectations and reiterated free cash flow of $7-$8 per share in 2020. Metrics suggest ongoing progress in the Citrix's transition, Thill tells investors in a research note. However, he remains cautious on the company's product and competitive backdrops. As such, the analyst keeps a Hold rating on the shares. Thill prefers VMware (VMW) over Citrix due to "better" fundamentals and growth prospects at a similar valuation.
Fly Intel: After Hours Movers » 19:0001/2201/22/20
SLM, TER, PTC, STLD, CTXS, PAYC, FUL, TXN, IMGN, XENE, AVNW
UP AFTER EARNINGS: Sallie…
UP AFTER EARNINGS: Sallie Mae (SLM) up 21.0%... Teradyne (TER) up 9.4%... PTC Inc (PTC) up 8.0%... Steel Dynamics (STLD) up 5.6%... Citrix (CTXS) up 4.7%. ALSO HIGHER: Paycom (PAYC) up 4.2% after entering S&P500 index. DOWN AFTER EARNINGS: HB Fuller (FUL) down 1.6%... Texas Instruments (TXN) down 1.3%. ALSO LOWER: Immunogen (IMGN) down 3.4% after equity offering... Xenon Pharma (XENE) down 2.9% after equity offering... Aviat Networks (AVNW) down 2.1% after cutting Q2, FY20 guidance due to cyberattack. Movers as of 18:40ET.
Citrix sees FY20 EPS $5.35-$5.55, consensus $5.43 » 16:1501/2201/22/20
Sees FY20 revenue…
Sees FY20 revenue $3.10B-$3.13B, consensus $3.11B