CTXS

Citrix Systems Inc

TMT


Presented:03/20/2018
Price:$94.55
Cap:$13.94B
Current Price:$103.90
Cap:$13.18B

Presented

Date03/20/2018
Price$94.55
Market Cap$13.94B
Ent Value$13.35B
P/E RatioN/A
Book Value$6.91
Div Yield0%
Shares O/S147.39M
Ave Daily Vol1,665,562
Short Int3.52%

Current

Price$103.90
Market Cap$13.18B
Citrix Systems, Inc. designs, develops and markets technology solutions. It markets and licenses its products directly to customers through web, systems integrators, value-added resellers and service providers. The company operates its business through two segments: Enterprise & service provider and GoTo Business. The Enterprise & service provider segment is comprised of workspace services, mobile and delivery networking products. The GoTo Business segment is comprised of communications cloud, documents cloud and workflow cloud products. It offers workspace service solutions, delivery networking products, cloud service products and related license updates & maintenance and professional services. Citrix Systems was founded by Edward E. Iacobucci on April 17, 1989 and is headquartered in Fort Lauderdale, FL.

Publicly traded companies mentioned herein: Citrix Systems Inc (CTXS), F5 Networks Inc (FFIV), VMware Inc (VMW)

Highlights

The presenter is long Citrix Systems (CTXS) and sees relatively new CEO David Henshall, who was CTXS’ CFO up until mid-2017, leading a successful restructuring and transition to a subscription model. In addition, moving the installed base to the cloud via a forced migration should bring with it some meaningful pricing benefits. With the potential for CTXS to generate $10 of FCF per share in 2020, including the positive contribution from aggressive stock repurchase activity, the presenter thinks a 15x multiple is fair for a $150 target (over 12 - 18 months).

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Idea Discussion

Commentor 1 - 2 weeks ago

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