Citrix (CTXS) Cloud Services Being Leveraged by Markerstudy

Citrix Systems CTXS Cloud services and  Citrix Virtual Apps and Desktops solutions are being utilized by Markerstudy to set up an agile digital work platform to provide its workforce with all the necessary tools and resources. This will enable Markerstudy’s personnel to get work done securely from anywhere and boost productivity levels.

Headquartered in Kent, the U.K., Markerstudy is one of the leading insurance providers in the country, with support extended to 1,000 broker partners and more than 3 million policyholders with various insurance products.

Markerstudy migrated its operations to Citrix Cloud services with the help of Citrix and Citrix partner IGEL. The company has already been using Citrix’s Virtual Apps and Desktop solutions.

Citrix noted that Markerstudy has also standardized and converted laptops, desktops into “locked down” centrally-controlled devices on IGEL operating system to provide an extra layer of security. These devices then can be managed through a single window using IGEL’s Universal Management Suite.

Cloud services and digital workspace solutions continue to gain steady traction amid the continuation of work-from-home setup and the implementation of hybrid work strategies globally.

Citrix Systems, Inc. Price and Consensus

Citrix Systems, Inc. price-consensus-chart | Citrix Systems, Inc. Quote

This augurs well for Citrix, which has a comprehensive portfolio of digital workspace and security solutions, including Citrix Virtual Apps and Desktops, 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.

The Wrike buyout is strengthening the company’s presence in the software as a service (SaaS)-based collaborative work management solutions space.

In the last reported quarter, Citrix delivered revenues of $851 million, up 5% on a year-over-year basis. Citrix 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 is expected to close by the mid of 2022, subject to regulatory and customary closing conditions. The transaction has been approved by the Citrix board of directors. Post the acquisition, Citrix will become a private company but will hold on to its brand name and retain headquarters at Fort Lauderdale, FL.

Zacks Rank & Stocks to Consider

Currently, Citrix has a Zacks Rank #2 (Buy).

Some better-ranked stocks worth considering from the broader technology sector include Broadcom AVGO, Apple AAPL and Texas Instruments TXN. 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 $33.81 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 34.1% 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 31.8% 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 up 1.9% in the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.