Citrix Workspace Solutions (CTXS) Adopted by Hollands Kroon
Citrix Systems“CTXS digital workspace solutions are enjoying healthy momentum as the global home work configuration continues.
Recently, the company’s workspace solutions were leveraged by the Dutch municipality – Hollands Kroon – to provide its workforce with all the tools and resources needed to get the job done from anywhere and increase their productivity levels. Hollands Kroon was assisted by RawWorks in the deployment of Citrix digital workspace solutions.
Hollands Kroon has extended “self-service access” to support services to its employees using the microapp functionality offered by Citrix’s workspace solutions. This has reduced the burden on IT administration and allows it to focus on larger system issues, Citrix noted.
Amid a drastic shift towards the configuration of remote working, there have been more and more cybersecurity attacks. Citrix workspace solutions enable customers to protect classified data and personal information across devices and locations.
Citrix Systems, Inc. Price and consensus
Citrix Systems, Inc. price-consensus-chart | Quote from Citrix Systems, Inc.
The adoption of the hybrid model bodes well for Citrix
Citrix’s broad portfolio of workspace solutions is expected to experience continued momentum as global business enterprises strive to embrace a distributed working model. This is expected to drive demand for digital workspace solutions, even in a post-pandemic world.
Over 90% of professionals (millennials and Gen Z) surveyed supported a hybrid / flexible work setup while 82% of employers surveyed wanted to adapt a hybrid work model to meet the needs of their employees, according to a recent research report . from Citrix.
According to the report, the trends also suggest that the work-from-home setup will be primarily adopted for performing activities that do not require any joint effort. The offices will primarily be for team collaborations as well as connection and innovation in the future.
Changing trends in the workplace bode well for Citrix. The company has a strong customer base of more than 400,000 trading companies worldwide. These companies take advantage of the company’s comprehensive portfolio of digital workspace and security solutions, including Citrix SD-WAN, Citrix Secure Workplace Access solutions, Citrix Virtual Apps and Desktops, Citrix Endpoint Management, and Citrix Secure Browser.
The purchase of Wrike is also expected to strengthen the company’s presence in the software-as-a-service (SaaS) -based collaborative work management solutions space. Citrix acquired Wrike for $ 2.25 billion to strengthen its portfolio of unified digital workspace solutions in March 2021.
Recently, Citrix revealed that Iceland-based Össur is deploying its digital workspace offerings and secure access solutions to implement an agile digital workplace and a security framework based on Zero Trust. . Previously, the Denmark-based Municipality of Albertslund used Citrix Workspace solutions, including Citrix Analytics for Performance, to provide a seamless remote work experience for its workforce amid the pandemic.
The move to software solutions from traditional hardware is likely to hurt application delivery and security revenue in the future. The decline in revenues from professional services is a surplus.
In addition, greater investments in product development in a context of increasing competition from AmazonVMware’s AMZN workspaces, and VMware’s Workspace ONE and Horizon are likely to limit margin expansion, at least in the short term. A heavily indebted balance sheet is an additional concern.
Over the past year, shares of Citrix, which currently carry a Zacks Rank # 3 (Hold), have fallen 23.2% compared to industry growth of 30.8%.
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