Fly on WallStreet

Ok, the stock is being unfairly punished today-- down 20%. My best guess is for the stock to hold above its weekly 200 day moving average of $27.17-- which it almost hit this morning. Historically, that moving average has represented both support and resistance. Therefore, I feel comfortable "betting" that it will hold that line.

As for analyst comments: Most downgraded the stock because the had to. However, some said the selling was overdone and to buy on this dip.

Here are a few excerpts:

Citrix-CTXS core business showed weakness in Q3-Neutral@SUSQSUSQ believes CTXS was a "beat and raise" story going into the call, and they believe expectations will get reset from here.

Citrix-CTXS downgraded to Neutral from Outperform, tgt to $34@FBCOThe firm expects limited upside until new product drivers begin to impact business.

Citrix-CTXS business trends positive, would buy the shares-Outperform@PACSPac Crest believes the PS4 license shortfall will overshadow the positive trends.

Citrix-CTXS would use weakness today as a near-term buying oppty-Buy@BOFABank of America's long-term Presentation Server estimates are largely unchanged after the quarter, noting the slowdown came earlier than expected.

Citrix-CTXS downgraded to Neutral from Outperform@BARDThe firm cited the slowdown in CTXS's core business for the downgrade.

Citrix-CTXS downgraded to Hold from Buy@STFLStifel expects concerns regarding near-term growth following the company's disappointing revenue and bookings performance in Q3.

Also, Cody Willard from Cramer's Realmoney site opined on the CTXS drop:

On another note, Citrix is down nearly 20% today after last night's mostly in-line. A lot of mo-mos are/were in Citrix, as it has been the antithesis of the overpromise-and-underdeliver approach by eBay and Yahoo! for the past few quarters. Citrix needed to beat and guide higher to keep from going lower today.

That said, I think the downside is overdone here. Although I won't step in and try to catch a falling knife today, I will start building a position in Citrix in the next few trading days. Citrix's Netscaler is inside of Google's original video platform. While that business doesn't have the sizzle of YouTube in the near term, there will be a lot more growth for Internet video at Google (and elsewhere, of course), and Citrix is likely to see Netscaler heat up again. No rush, though.