Stock Alert: Citrix Systems Benefiting During Covid-19 Pandemic

(RTTNews) - Citrix Systems, Inc. (CTXS)is one of the few companies whose shares are zooming while the new coronavirus is gripping the world. The stock has gained more than 40% in the recent months. It recorded a 52-week high of $150.33 on April 6.

The fact that Citrix's digital workspace technology allows people to work in remote places with high level security has benefited the company. During the Covid-19 pandemic many companies are forced to let their employees work from home, is paying off for Citrix.

A research done by OnePoll on behalf of Citrix Systems showed that many organizations are adapting to work-from-home and the change will continue as a way of getting work done.

Citrix solutions are in use by more than 400,000 organizations including 98 percent of the Fortune 500. Looking forward to first quarter, the company expects adjusted earnings of $1.15 to $1.20 on revenue of $730 million to $740 million. On average, 16 analysts polled by Thomson Reuters are expecting earnings of $1.17 per share on revenue of $733.57 for the quarter.

Citrix expects to report its first-quarter financial results on Thursday, April 23.