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Downgrade Alert for Citrix Systems (CTXS)

By Nick Russo

Citrix Systems (NASDAQ:CTXS) was downgraded from Hold to Underperform at Jefferies today. The stock closed yesterday at $86.62 on volume of 3.1 million shares, above average daily volume of 1.6 million.

Over the past year, Citrix Systems has traded in a range of $60.91 to $90.00 and closed yesterday at $86.62, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

Citrix Systems (NASDAQ:CTXS) is currently priced 5.5% above its average consensus analyst price target of $81.81. Citrix Systems shares have support at the 50-day moving average (MA) of $78.20 and additional support at the 200-day MA of $74.44.

Citrix Systems, Inc. designs, develops, and markets technology solutions that allow applications to be delivered, supported, and shared on-demand. The Company develops and markets comprehensive solutions across all dimensions of application, server and desktop virtualization as well as application and network optimization.

SmarTrend is monitoring the recent change of momentum in Citrix Systems. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Citrix Systems in search of a potential trend change.

Keywords: analyst upgrades/downgrades Citrix Systems

Ticker(s): CTXS