Apps & Software
Citrix Systems, Officially a Virtualization Play (CTXS, VMW)
Published:
Citrix Systems Inc. (NASDAQ:CTXS) has officially become a "virtualization stock" as it announced this morning that it has closed upon the $500 million purchase of XenSource, which was announced in August. The company now claims that Citrix is now the only company to offer organizations an end-to-end virtualization infrastructure that includes application, desktop and server virtualization solutions. The company has many other announcements and demonstrations this morning at its App Delivery Expo in Las Vegas:
Citrix is also seeing shares trade up on an analyst upgrade. Deutsche Bank raised its Hold rating to a "Buy" rating based on its conviction that XenSource is a legitimate vendor in the virtualization market behind VMWare (VMW). Deutsche Bank also noted that XenSource could contribute more than expected to the company’s fourth quarter.
As a reminder, Citrix saw shares down briefly about as much as 10% after its earnings report last week. Shares are up 1.5% at $40.24 in pre-market trading.
Jon C. Ogg
October 22, 2007
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