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Citrix's (CTXS) Workspace Solutions Leveraged by Albertslund

·4-min read

Citrix Systems CTXS recently announced that Denmark-based Albertslund Municipality is leveraging Citrix Workspace solutions including Citrix Analytics for Performance to deliver a seamless work-from-home experience for employees amid the ongoing COVID-19 crisis.

Citrix Analytics for Performance solution offers business enterprises’ IT teams with increased visibility across apps, networks and infrastructure to quickly respond to issues faced by individual users and boosts employee productivity.

Recently, the Citrix’s Virtual Apps and Desktops, Citrix Analytics for Security, Citrix SD-WAN and Citrix Cloud solutions were deployed by IT solutions provider iOCO to provide employees with a seamless work experience.

In May, Canada-based Ottawa Hospital utilized Citrix’s digital workspace solutions like Citrix Virtual Apps and Desktops, Citrix Workspace and Citrix ADC offerings to create a Digital Health Network.

Citrix Systems, Inc. Price and Consensus

Citrix Systems, Inc. Price and Consensus
Citrix Systems, Inc. Price and Consensus

Citrix Systems, Inc. price-consensus-chart | Citrix Systems, Inc. Quote

Increasing Demand for Workspace Solutions

Citrix’s unified workspace solutions portfolio is gaining steady traction owing to the pandemic-triggered demand for secure and reliable remote work solutions as well as accelerated digital transformation. The trend is unlikely to dissipate soon as the global vaccine rollout is expected to be a time-consuming affair.

Companies across the globe have started to adopt a hybrid/flexible work model, which is expected to drive demand for digital workspace solutions in the post pandemic world.

The acquisition of Wrike is anticipated to bolster the company’s presence in the software as a service (SaaS)-based collaborative work management solutions’ domain. In March 2021, Citrix purchased Wrike for $2.25 billion to strengthen its unified digital workspace solutions’ portfolio.

According to a MarketsAndMarkets report, the global digital workplace market is set to witness a CAGR of 21.3% between 2021 and 2026 and reach $72.2 billion.

Citrix workspace offerings portfolio also includes solutions like Citrix Virtual Apps and Desktops, Citrix SD-WAN, Citrix Endpoint Management, Citrix Secure Workplace Access. The company has more than 400,000-strong clientele base that leverages its wide-ranging digital workspace and security solutions.

The demand for Citrix’s desktop virtualization offerings is likely to witness sustained momentum as centralized management of employee desktops augments security, control and fosters cost savings for businesses.

However, increasing investments on product enhancements amid stiff competition from Amazon’s AMZN Amazon WorkSpaces and VMware's Horizon are likely to limit margin expansion, at least in the near term.

Also, shift toward software-based solutions from traditional hardware is likely to dent App Delivery and Security revenues in the days ahead. Further, decline in Professional Services revenues is an overhang. A highly-leveraged balance sheet is an added concern.

In the past year, shares of Citrix that carries a Zacks Rank #5 (Strong Sell) are down 19.8% compared with industry’s growth of 31%.

Stocks to Consider

Some better-ranked stocks worth consideration in the broader technology sector are Facebook FB and Alphabet GOOGL. Both the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate for Facebook and Alphabet is currently pegged at 20.1% and 18.1%, respectively.

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