A previous version of this story incorrectly stated Citrix was headquartered in Santa Clara, Calif.NEW YORK ( TheStreet) -- Citrix Systems ( CTXS) topped Wall Street expectations for its fourth-quarter earnings late Wednesday, lifted by strong year-over-year revenue growth of 17%. But the Fort Lauderdale, Fla.-based virtualization software developer offered a mixed outlook -- giving an above-consensus view for the whole of fiscal 2011 while projecting a first-quarter adjusted profit that's below the current average analysts' view -- and the quarterly earnings were marginally above its year-ago performance. The shares rose slightly in after-hours trades.
For the three months ended Dec. 31, Citrix posted non-GAAP
The stock was last quoted at $64.55, up 1.6%, on volume of more than 225,000, according to Nasdaq.com. Based on a regular session close at $63.51, the shares are up more than 45% in the past 52 weeks, but they've pulled back 9.4% since the start of 2011, and are down 12% since hitting a 52-week high of $71.93 in late September. Analysts had a bearish lean ahead of the report with 20 of the 33 analysts covering the stock at either hold (19) or underperform (1). The median 12-month price target of $69.50 implies upside of more than 10% from Wednesday's close however. Citrix's products include the XenDesktop application, and online software services like GoToMeeting and GoToMyPC, which provide remote access to sales demonstrations and individual computers respectively. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org