Why Citrix's Drop May Signal a Buy Opportunity

Why Citrix's Drop May Signal a Buy Opportunity

Despite beating expectations, shares of remote work company Citrix Systems (NASDAQ: CTXS) fell 16% after reporting its second-quarter results. The company has been slowly transitioning its customers to a cloud-based subscription model, and that slow pace was punished in the market in spite of its positive progress. The company reported strong results in the second quarter of 2020, maintaining its trend of increasing total revenue.