Citrix Systems Inc. (NASDAQ: CTXS) shares rose in value Monday Dec 5 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.
The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.
Analysts at Mizuho upgraded shares of Citrix Systems Inc. (NASDAQ: CTXS) from Neutral to Buy today. The company currently has a rating of Buy on the shares. The one-year price target of $91.90 is higher than the opening price of $86.61, causing a fair amount of other analysts to report on the company in recent days. Looking back over the last 52 weeks, Citrix Systems Inc. stock has a high of $90.00. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Citrix Systems Inc. (NASDAQ: CTXS) opened at $86.61 on Tuesday trading between $86.05 and $88.38, and last traded at $88.30, which is a spike of $2.68 or 3.13% compared to the previous closing price.
Citrix Systems Inc. (NASDAQ: CTXS) now has a market cap of 13.77B.
Citrix Systems Inc. (NASDAQ: CTXS) Average Daily Trading Volume
The stock’s average daily volume is 1,202,010 shares out of a total float 155,212,000 and some 234,083 shares traded hands yesterday, lower than normal. Momentum traders often use upticks in trading volume to determine heavy volume accumulation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
Citrix Systems Inc. (NASDAQ: CTXS) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
Traders can make the best trades when they follow the activity of professional investors.
Trades for Citrix Systems Inc. (NASDAQ: CTXS) have ranged from $60.91 – 90.00, and the stock now has a 50-day MA of $85.36 and 200-day MA of $85.10. Today’s last price is 1.89%% lower than the 52 week high of $90.00.
Earnings growth is a crucial factor to consider when buying stocks and investors watch for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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