Recently, Citrix Systems has been in a downtrend. The stock price has fallen more than 27% between April 2021 and August 2021. Much of the downtrend has to do with certain financial institutions changing their rating of Citrix’s stock from overweight to underweight. Recently, Citrix had announced its quarterly results, and the numbers came in below analyst expectations. However, Citrix continues to be one of the leading companies in the world in desktop virtualization and cloud computing. The company has over 8000 employees and corporate headquarters in California and Florida. Additionally, Citrix operates development centres in India, Canada, UK, Denmark, and Germany. It is a large multinational business with an impressive client base. Citrix Systems specializes in building software applications that allow employees to collaborate and work remotely. It is one of the options when it comes to the best software application stock.
DaaS and SaaS – Citrix Systems’ Expertise
Citrix Systems is best known for its SaaS and DaaS products. However, what do these terms exactly mean? SaaS stands for Software-As-A-Service, while DaaS stands for Desktop-As-A-Service. DaaS offers desktop-related application software to a customer over the cloud. It can be accessed from any device anywhere in the world. The service simulates a desktop as if you were sitting in front of your desktop at your main physical office. SaaS is a model of software delivery through subscriptions. It also ensures that the client does not require software to be installed on a particular machine. The client can access the software from any device anywhere in the world through the cloud. Citrix’s main cloud-based SaaS offering is Podio, a workplace collaboration application. Citrix Systems is one of the top software application stocks.
Best Software Application Stock
Citrix Systems’ stock closed at $103.22 on 20th August 2021. The stock has traded flat for all of August 2021. In fact, the stock hasn’t moved much for almost two years. It is near the same levels last seen in September 2019. Such consolidation can lead to a major move in the future.