Downgrade Alert for Citrix Systems (CTXS)
Citrix Systems (NASDAQ:CTXS) was downgraded from Neutral to Sell at UBS today. The stock closed yesterday at $84.16 on volume of 1.1 million shares, below average daily volume of 1.6 million.
In the past 52 weeks, shares of Citrix Systems have traded between a low of $60.91 and a high of $90.00 and closed yesterday at $84.16, which is 38% above that low price. 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, 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.
Based on a current price of $84.16, Citrix Systems is currently 2.8% above its average consensus analyst price target of $81.81. The stock should discover initial support at its 50-day moving average (MA) of $78.20 and subsequent support at its 200-day MA of $74.44.
SmarTrend is tracking the current trend status for Citrix Systems and will alert subscribers who have CTXS in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades Citrix Systems