CTXS
Citrix Systems Inc.
TMT
12/20/2013
Presented
| Date | 12/17/2013 |
| Price | $58.71 |
| Market Cap | $10.90B |
| Ent Value | $10.25B |
| P/E Ratio | 42.17x |
| Book Value | $13.52 |
| Div Yield | N/A |
| Shares O/S | 186.40M |
| Ave Daily Vol | 3,050,000 |
| Short Int | 2.76% |
Current
| Price | $103.90 |
| Market Cap | $13.18B |
| Citrix Systems, Inc. provides cloud computing solutions that enable information technology (IT) and service providers to build private and public clouds worldwide. The company operates in two divisions, Enterprise and Online Services. The Enterprise division offers desktop virtualization products, including XenDesktop, an integrated desktop virtualization system; XenApp to manage and mobilize Windows applications; AppDNA, an application lifecycle management software; VDI-in-a-Box, a desktop virtualization solution; and XenClient, a bare-metal hypervisor. It also provides mobile solutions, such as CloudGateway, a unified service broker; and XenMobile MDM, a mobile device management solution. In addition, this division offers cloud networking solutions comprising NetScaler, a Web application delivery controller; Bytemobile Smart Capacity solutions to address traffic challenges; and CloudBridge that connects enterprise datacenters to any end point. Further, it provides CloudPortal to automate business and operations support services; CloudPlatform, an open source software platform; and XenServer, a virtualization platform. The Online Services division provides collaboration solutions comprising GoToMeeting, a product for online meetings, sales demonstrations, and collaborative gatherings; GoToWebinar, a do-it-yourself Webinar product; Podio, a social collaborative work platform; GoToTraining, an online training product; GoToMyPC, an online service that enables individuals to remotely use resources hosted on their desktop; and GoToAssist, a cloud-based IT support solution. This division also offers ShareFile, a cloud-based file sharing and storage solution. The company also provides upgrades, support, and maintenance services; and professional services. The company was formerly known as Citrus Systems, Inc. and changed its name to Citrix Systems, Inc. in March 2009. Citrix Systems, Inc. was founded in 1989 and is headquartered in Fort Lauderdale, Florida. |
Highlights
The presenter is short shares of Citrix Systems (CTXS) and believes its business faces an extremely challenging road given the structural changes occurring in the use of software delivered as a service via the cloud. The success of Amazon Web Services to-date and the potential for Microsoft to deliver Office as a service within the next year or two are evidence of the trend. With shares trading at ~$57, the market does not appear to be pricing in the potential for the entire desktop experience to be delivered as a service in the foreseeable future..
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