J Rogash/Getty Images
were up 3.27% Wednesday following reports the cloud-computing and digital workspace company had hired advisors to weigh a potential sale.
The stock has disappointed the past 12 months, tumbling 19% compared with a 45% rise at cloud-computing rival
(ticker: MSFT) and a 43% stock jump at
(CSCO). Its poor performance had attracted the attention of activist investor Elliott Investment Management, which recently took a 10% position in the company.
In the wake of this, Citrix (CTXS) once again is examining whether to put itself on the block, according to a report in Bloomberg that cited unnamed people familiar with the matter. It also reported unnamed advisors had been appointed.
The advisors have been tasked with gauging interest from potential buyers, although Bloomberg said a decision had not yet been taken on whether to raise the for-sale sign or for it to remain a stand-alone entity.
Citrix has had a rough year despite other cloud-computing companies benefiting from a pandemic boost as more people working from home migrated to using remote servers. Other companies have been more successful migrating casual users into permanent customers.
David Henshall, the chief executive, explained in a quarterly update in April that Citrix had hoped customers with limited-use licenses would invest in longer-term commitments rather than another short-term offering, Bloomberg reported in a separate article.
Citrix had an aborted attempt to sell itself back in 2017. The company has been approached for comment.
Write to firstname.lastname@example.org