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Citrix

  • Sectors:
  • Networking
  • Productivity Apps
  • Virtualization
  • JAN21

    metal

  • OCT20

    iowa

  • JUL20

    intranet

2021 outlook

The work from home benefit for simply dummy text of the printing and typesetting industry.

TOP TAKEAWAYS -

  • In late July, shares of Citrix reached an all-time high the day before earnings, and the next day management stated that “hybrid work models are here to stay…and that means our ability to accelerate penetration across our installed base as well as tapping into net new customers. I see it as definitely a long-term positive for the business.” Despite the optimistic backdrop, the financials didn’t fully support the enthusiasm and shares have traded ~20% lower since 2Q earnings. With Citrix set to report again on Oct 21, let’s see if the most recent data matches up with management’s outlook.
  • In late July, at the height of the work from home rally, shares of Citrix reached an all -time high but based on the OCT20 data set, the ETR research team wrote that the, “initial work from home benefits are waning as spending intentions decelerate in key Productivity Apps and Virtualization sectors.” That coupled with increased competition created a cautious outlook for the company for the second half of 2020. With the next earnings report date set for Jan 21, let’s review the most recent data set to see if there has been any material changes...
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  • 373
  • Survey Respondents
  • Representing $213b in annual IT Spend
  • 78Fortune 500
  • 82 S&P 500
  • 130Global 2000

Distribution of the Survey Answers

  • 1% adoption
  • 31% increase
  • 51% flat
  • 13% decrease
  • 4% replacing

Shared Account Time Series

See how Citrix customers are simultaneously spending with peers/competitors (versus three months ago and one year-ago levels)

Time Series

Citrix - Single Vendor Aggregate

The historical response breakdown for Citrix; the blue line represents Net score while the yellow line represents Market share.

Single Vendor Aggregate
  • adoption
  • increase
  • flat
  • decrease
  • replacing
  • net score

Citrix Tracking the Conversation -

  • I think Citrix is pretty much legacy. Microsoft has really been eating Citrix’ lunch in this area and taking away a lot of the Citrix VDI customers.

    - Director of Information Security Engineering, Large Private University | VENN 228, 12/16/2020

  • We’re currently using Citrix to address old legacy applications and do a little bit of remote connectivity. Citrix helps but to scale Citrix, you need more hardware and that’s where the procurement and infrastructure work kicks in. If you already had Citrix before and you just need to increase, it might be easy but if you have to make all those investments to get Citrix in, it raises the business case comparison issue with other technologies.

    - CIO, Large Government Agency | VENN 215, 10/08/2020

  • I have used Citrix in the past, and personally, I like it. It is a very lightweight version of a remote desktop, but like the [ ETR] chart is showing, it’s something that’s been dying off recently. That’s because your Microsofts and your Dells have been taking over in that space.

    - Business Process and IT Manager, Midsize Construction Firm | VENN 214, 10/06/2020

Citrix Spend Focus - Respondent Subsample

Spending Intentions for Citrix by customer type (Index, Region, Vertical, etc.)

Respondent Subsample

Citrix Spend Focus

Spending Intentions for Citrix across all Sectors that track it

Single Vendor View