On Oct 10, 2014, we issued an updated research report on Citrix Systems, Inc. (CTXS), a leading provider of virtualization, networking and cloud computing solutions in the U.S. Citrix is concentrating on three broad markets: Desktop virtualization, Cloud Infrastructure and networking, and Collaboration and sharing. As desktop virtualization has become a top priority for any IT set-up, Citrix is continuously introducing innovative products that will facilitate business flexibility, security and centralized management system.
We believe the global trend toward virtualization and cloud computing will facilitate Citrix to retain its momentum in the long term. Moreover, both its XenMobile and XenApps are gaining significant market traction in the highly lucrative enterprise mobility segment and Windows app virtualization.
Last month, Citrix Systems launched an innovative app called ShareConnect, which will provide unique desktop-like facilities to iPads and Android-based tablets. Using ShareConnect will make work easier for users who are on the move for the greater part of the day. Through this app, they will be able to access important business applications, files and networks even when they are out of office. We believe the ShareConnect app will help Citrix Systems drive its top and bottom line in the coming quarters.
Previously, Citrix had launched GoToMeeting Free – an online communications software that facilitates users to easily and quickly sync-up videos by just clicking on the new application. GoToMeeting Free – which is available on the Chrome browser – allows free, unlimited video conferencing between a maximum of three people.
On the flip side, several industry researchers have predicted that of all the corporate desktop PCs, only a few will tend to use virtualization in the future due to higher costs associated with this technology, and this may prove a hurdle. Moreover, the server virtualization market is intensely challenging and is becoming more commoditized.
Citrix currently carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Better-ranked stocks worth considering in this sector include Aspen Technology, Inc. (AZPN), Guidance Software, Inc. (GUID) and Imperva Inc. (IMPV). All these stocks sport a Zacks Rank #1 (Strong Buy).
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