Citrix Systems (CTXS - Free Report) recently announced its collaboration with Upwork (UPWK - Free Report) for the launch of the new Upwork Talent Solution with Citrix Workspace, which is designed to help companies improve productivity amid growing remote-work trends.
Markedly, the Citrix Workspace platform guides, organizes and automates all the tasks needed to optimize employee performance. Combined with Upwork Talent Solution, the new offering will help businesses onboard and integrate professionals while providing them with remote access to company resources across all locations and devices.
Features of the solution include easy access to a large pool of professional talent, secure remote infrastructure for the rapid onboarding of talent and a flexible, pay-as-you-go model, among others. The Upwork Talent Solution with Citrix Workspace will available through Citrix Service Provider and Solution Advisor A2K Partners.
The ongoing work-from-home trends, amid surge in coronavirus cases and no vaccine in sight, are likely to drive adoption of Citrix’s latest offering. This in turn is expected to drive revenues in the quarters ahead and boost investor optimism in the stock.
Notably, shares of Citrix have gained 30.6% year to date compared with the industry’s rise of 18.4%.
Citrix Systems, Inc. Price and Consensus
Work-From-Home Wave Favors Prospects
The COVID-19 crisis compelled governments across the world to impose lockdowns, which led to increase in work-from-home trends. Consequently, companies that lack remote work capabilities are expected to witness a loss in productivity.
Remote working seems to be growing on employees as well. As per a study conducted by International Business Machines, more than 75% pointed that they would like to continue to work remotely occasionally, while nearly 54% indicated they would like this to be their primary way of working.
In this regard, the demand for robust solutions that helps manage all of the tasks associated with remote work is likely to increase among organizations looking to boost productivity amid lockdowns. As a result, Citrix’s latest solution is expected to witness robust traction in the upcoming quarters.
Efforts to Expand Offerings Hold Promise
Citrix is leaving no stone unturned to capitalize on the rapidly changing workspace demands stemming from the ongoing pandemic.
Recently, the company partnered with Wipro (WIT - Free Report) and Microsoft (MSFT - Free Report) to roll out a joint solution that aids customers to drive business continuity by enabling remote work and productivity while giving employees the flexibility to work from anywhere in a safe, secure and reliable manner.
Moreover, Citrix joined forces with Hewlett Packard Enterprise to launch solutions that will enable customers to bring employees back to the office and ensure their safety. The solutions will help employees manage and complete vital tasks associated with re-opening offices like location mapping and completing health agreements.
In May, the company announced the extension of its Remote PC Access solution to the cloud and made it available as part of Citrix Desktop Essentials and Citrix Desktop Service. It has also introduced Citrix Analytics for Performance with an aim to aid IT administrators to assess and address system performance concerns to boost employee efficiency.
Citrix’s enhanced offerings are witnessing robust momentum as an increasing number of companies have selected Citrix for their remote work needs. Recently, the company’s solutions were adopted by Gloucestershire Hospitals NHS Trust to enable its employees to work from home and continue providing essential health services.
Additionally, non-profit organization –– Positive Steps –– chose Citrix to facilitate its remote work needs. The company’s digital workspace solutions helped Positive Steps quickly provide access to all of the tools and applications its employees need to work from home.
This growing clout highlights the strength and functionality of the company’s solutions. Thus, Citrix, which currently carries a Zacks Rank #3 (Hold), is well poised to benefit from the ever evolving workplace needs during these uncertain times. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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