Citrix Systems (CTXS) reported earnings of $1.42 per share, meeting expectations but down from $1.73 per share a year ago. Revenues for the quarter ended March 2021 were $775.77 million, missing the consensus estimate of $860.95 million. Despite this, the company has surpassed revenue estimates three out of the last four quarters. Citrix shares have increased by 6.5% year-to-date, compared to the S&P 500’s gain of 11.4%.
Looking ahead, investors are curious about Citrix’s future performance. Earnings outlook is crucial in determining stock movement, with a strong correlation between stock performance and earnings estimate revisions. Citrix currently has a Zacks Rank #2 (Buy), suggesting it is expected to outperform the market in the near future. Analysts are anticipating earnings of $1.54 per share on revenue of $822.28 million for the next quarter and $6.36 per share on revenue of $3.37 billion for the current fiscal year.
Industry outlook also plays a significant role in stock performance, with the Computer – Software industry currently ranked in the top 42% of Zacks industries. Research indicates that top-ranked industries outperform the bottom-ranked ones by more than 2 to 1.
Overall, Citrix’s financial performance in this quarter was mixed, with earnings meeting expectations but revenue falling short. The company’s stock performance has been moderate, reflecting a slower growth rate compared to the broader market. However, with a favorable earnings outlook and a Zacks Rank #2, Citrix is poised to potentially outperform the market in the near future. Investors will be closely monitoring future earnings estimates and industry trends to assess the stock’s future performance.
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