Citrix Systems ( CTXS Quick Quote CTXS - Free Report) recently announced availability of its cloud-delivered and Zero-Trust Network Access (or “ZTNA”) solution — Citrix Secure Private Access. The solution is part of the company’s Citrix’s broad portfolio of secure access solutions.
Citrix Secure Private Access safeguards access to apps and data from unmanaged, managed and Bring-Your-Own-Devices, providing security to a scattered workforce. With the Citrix Secure Private solution, IT teams can offer zero-trust network access to all apps. IT will also be able to provide adaptive authentication for constant evaluation of access based on device posture, end-user roles, locations and user risk profiles, added Citrix.
The latest offering can secure remote work by lowering the risk of web-borne dangers and exposure to dubious content while boosting the experience for the distributed workforce, further noted Citrix.
Amid the increasing adoption of flexible/hybrid work models, the instances of cyberattacks have become rampant, thereby propelling the deployment of robust security solutions. Higher demand for creating agile IT infrastructure to thwart Advanced Persistent Threats is also fueling the market growth.
The cyber security market, globally, is expected to witness a CAGR of 14.1% between 2022 and 2027,
per a Mordor Intelligence report.
These projections bode well for Citrix, which is one of the well-known players in the digital workspace solutions space. Apart from Citrix SD-WAN and Citrix Secure Workplace Access solutions, the company also provides solutions like Citrix Endpoint Management, Citrix Secure Browser and Citrix Virtual Apps and Desktop.
In September 2021, Citrix had
rolled out a cloud-powered solution — Citrix App Delivery and Security Service — designed primarily to simplify and automate the process of app delivery like provisioning, on-boarding and management. This will help IT teams to provide an augmented user experience. The solution also features Bot management, an integrated web application firewall and Application Programming Interface (API) protection for valuable and susceptible assets.
The company’s latest security solution Citrix Secure Private Access, combined with Citrix Analytics for Security, can offer enterprises a unified and thorough approach to safeguarding apps and data.
Citrix currently has a Zacks Rank #3 (Hold). Shares of CTXS have lost 28.6% against the
industry’s rise of 15.7% in the past year. Key Picks
Some better-ranked stocks from the broader technology sector are
Broadcom ( AVGO Quick Quote AVGO - Free Report) , Apple ( AAPL Quick Quote AAPL - Free Report) and Arrow Electronics ( ARW Quick Quote ARW - Free Report) . Arrow Electronics sports a Zacks Rank #1 (Strong Buy) while Apple and Broadcom carry a Zacks Rank of 2 (Buy) at present. 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, up 7.4% in the past 60 days. AVGO’s long-term earnings growth rate is pegged at 14.5%.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 1.9%. Shares of AVGO have increased 31.2% in the past year.
The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.16 per share, up 0.2% in the past 60 days. The long-term earnings growth rate is pegged at 12.5%.
Apple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average being 20.3%. Shares of AAPL have rallied 41.4% in the past year.
The Zacks Consensus Estimate for Arrow Electronics 2022 earnings is pegged at $18.48 per share, up 8.6% in the past 60 days. The long-term earnings growth rate is 3.1%.
Arrow Electronics’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average being 19.1%. Shares of ARW have gained 3% in the past year.