Why Citrix Systems (CTXS) Stock Is Up Today

NEW YORK (TheStreet) -- Citrix Systems (CTXS) stock is soaring on Thursday after the company exceeded expectations in its first quarter. 

By midday, shares had added 9.9% to $61.54.

The cloud-computing developer reported net income of 64 cents a share and revenue of $751 million, a 12% year-over-year increase. 

Analysts surveyed by Thomson Reuters had expected net income of 58 cents a share and revenue of $732.2 million.

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TheStreet Ratings team rates CITRIX SYSTEMS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CITRIX SYSTEMS INC (CTXS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself."

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