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Citrix (CTXS) Focused on Gaining From Hybrid Work Innovation
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Citrix Systems recently announced that Citrix ADC version 12.1 achieved Common Criteria Certification.
Common Criteria Certification is an international security program through which certified laboratories examine IT products against a standard agreed through the Common Criteria Recognition Arrangement (CCRA) by more than 30 countries.
The company noted that this accreditation would make it easier for procurement professionals, especially in the public sector, to purchase the Citrix ADC solution quickly and in alignment with the policies to boost hybrid work adoption.
Citrix ADC is the company’s application delivery and load balancing solution designed primarily for microservices-based and monolithic applications. Citrix ADC can be used alongside Citrix Virtual Apps and Desktop solution to allow employees to gain customized and secure access to the information, tools and systems while working remotely or in a hybrid work set up, added the company.
Apart from Citrix Virtual apps and Citrix ADC, Citrix has a wide-ranging portfolio of digital workspace and security solutions, including Citrix SD-WAN, Citrix Secure Workplace Access solutions, Citrix Endpoint Management and Citrix Secure Browser. The company already has a robust client base of more than 400,000 business enterprises worldwide.
Cloud services and digital workspace solutions continue to witness steady momentum amid the increasing implementation of hybrid work strategies globally. This bodes well for Citrix.
Recently, Citrix’s Cloud services and Citrix Virtual Apps and Desktops solutions were utilized by Markerstudy to set up an agile digital work platform to provide its workforce with all the necessary tools and resources to work from anywhere.
The Wrike buyout is strengthening the company’s foothold in the software as a service (SaaS)-based collaborative work management solutions space.
Citrix delivered revenues of $851 million, up 5% on a year-over-year basis in the last reported quarter. The company’s management also announced that affiliates of Vista Equity Partners and Elliott Investment Management L.P are set to acquire the company (including all debt) in an all-cash deal worth $16.5 billion. Citrix is likely to be combined with one of Vista’s portfolio companies — TIBCO Software.
The transaction, approved by the Citrix board of directors, is expected to close by the mid of 2022, subject to regulatory and customary closing conditions. Post the takeover, Citrix will become a private company but will hold on to its brand name and retain headquarters at Fort Lauderdale, FL.
The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $35.49 per share. The long-term earnings growth rate of the company is pegged at 14.5%.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 1.9%. Shares of Broadcom have increased 22.5% in the past year.
The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.16 per share. The long-term earnings growth rate of the company is pegged at 12.5%.
Apple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 20.3%. Shares of AAPL have rallied 24.3% in the past year.
The Zacks Consensus Estimate for Texas Instruments for 2022 earnings is pegged at $9.09 per share. The long-term earnings growth rate of the company is pegged at 9.3%.
Texas Instruments’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.4%. Shares of TXN are down 3.9% in the past year.
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Citrix (CTXS) Focused on Gaining From Hybrid Work Innovation
Citrix Systems recently announced that Citrix ADC version 12.1 achieved Common Criteria Certification.
Common Criteria Certification is an international security program through which certified laboratories examine IT products against a standard agreed through the Common Criteria Recognition Arrangement (CCRA) by more than 30 countries.
The company noted that this accreditation would make it easier for procurement professionals, especially in the public sector, to purchase the Citrix ADC solution quickly and in alignment with the policies to boost hybrid work adoption.
Citrix ADC is the company’s application delivery and load balancing solution designed primarily for microservices-based and monolithic applications. Citrix ADC can be used alongside Citrix Virtual Apps and Desktop solution to allow employees to gain customized and secure access to the information, tools and systems while working remotely or in a hybrid work set up, added the company.
Apart from Citrix Virtual apps and Citrix ADC, Citrix has a wide-ranging portfolio of digital workspace and security solutions, including Citrix SD-WAN, Citrix Secure Workplace Access solutions, Citrix Endpoint Management and Citrix Secure Browser. The company already has a robust client base of more than 400,000 business enterprises worldwide.
Citrix Systems, Inc. Price and Consensus
Citrix Systems, Inc. price-consensus-chart | Citrix Systems, Inc. Quote
Cloud services and digital workspace solutions continue to witness steady momentum amid the increasing implementation of hybrid work strategies globally. This bodes well for Citrix.
Recently, Citrix’s Cloud services and Citrix Virtual Apps and Desktops solutions were utilized by Markerstudy to set up an agile digital work platform to provide its workforce with all the necessary tools and resources to work from anywhere.
The Wrike buyout is strengthening the company’s foothold in the software as a service (SaaS)-based collaborative work management solutions space.
Citrix delivered revenues of $851 million, up 5% on a year-over-year basis in the last reported quarter. The company’s management also announced that affiliates of Vista Equity Partners and Elliott Investment Management L.P are set to acquire the company (including all debt) in an all-cash deal worth $16.5 billion. Citrix is likely to be combined with one of Vista’s portfolio companies — TIBCO Software.
The transaction, approved by the Citrix board of directors, is expected to close by the mid of 2022, subject to regulatory and customary closing conditions. Post the takeover, Citrix will become a private company but will hold on to its brand name and retain headquarters at Fort Lauderdale, FL.
Zacks Rank & Other Stocks to Consider
Currently, Citrix has a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering from the broader technology sector include Broadcom (AVGO - Free Report) , Apple (AAPL - Free Report) and Texas Instruments (TXN - Free Report) . Texas Instruments sports a Zacks Rank #1 (Strong Buy), while Apple and Broadcom carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $35.49 per share. The long-term earnings growth rate of the company is pegged at 14.5%.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 1.9%. Shares of Broadcom have increased 22.5% in the past year.
The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.16 per share. The long-term earnings growth rate of the company is pegged at 12.5%.
Apple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 20.3%. Shares of AAPL have rallied 24.3% in the past year.
The Zacks Consensus Estimate for Texas Instruments for 2022 earnings is pegged at $9.09 per share. The long-term earnings growth rate of the company is pegged at 9.3%.
Texas Instruments’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.4%. Shares of TXN are down 3.9% in the past year.