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NEW YORK (TheStreet) -- Shares of Citrix Systems Inc. (CTXS) - Get Citrix Systems, Inc. Report are lower by 6.53% to $60.55 in pre-market trading on Thursday, after the company reported a decline in GAAP net income for the 2014 third quarter to $48 million, or 29 cents per diluted share, from $77 million, or 41 cents per diluted share for the year ago third quarter.

The cloud computing company said non-GAAP net income fell to $125 million, or 75 cents per diluted share, from $132 million, or 70 cents per diluted share for the 2013 third quarter.

Analysts polled by Thomson Reuters were expecting adjusted earnings of 73 cents per share for the most recent quarter.

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Citrix's revenue for the latest quarter grew by 6% to $759 million, from $713 million for the same period last year, but fell short of the $771.79 million analysts were expecting.

Separately, TheStreet Ratings team rates CITRIX SYSTEMS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CITRIX SYSTEMS INC (CTXS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, notable return on equity, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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You can view the full analysis from the report here: CTXS Ratings Report

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