Symantec (NASDAQ:SYMC)‘s stock had its “hold” rating reiterated by Robert W. Baird in a note issued to investors on Wednesday. They presently have a $22.00 target price on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 17.46% from the stock’s current price.
The analysts wrote, “We maintain our Neutral rating and $22 price target into FY2Q19 earnings on November 1; we view the risk/reward profile as slightly favorable based on assumptions underlying consensus expectations. After many quarters, we think guidance and expectations appear reasonable despite competitive pressure on most parts of the business. Despite noisy headline numbers, we think the underlying results are less volatile than perceived and the business is stabilizing.””
Other analysts have also recently issued reports about the company. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Barclays decreased their price objective on Symantec from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, August 6th. Deutsche Bank increased their price objective on Symantec from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 17th. Stifel Nicolaus decreased their price objective on Symantec from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 3rd. Finally, Evercore ISI reaffirmed a “hold” rating and set a $22.00 price objective on shares of Symantec in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and four have given a buy rating to the company. Symantec presently has a consensus rating of “Hold” and an average price target of $23.38.
Symantec stock opened at $18.73 on Wednesday. Symantec has a twelve month low of $17.49 and a twelve month high of $30.23. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 2.49 and a beta of 0.67.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts predict that Symantec will post 0.9 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Symantec by 355.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock valued at $130,000 after buying an additional 4,784 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Symantec in the 2nd quarter valued at approximately $150,000. Cerebellum GP LLC lifted its holdings in shares of Symantec by 47.9% in the 2nd quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock valued at $171,000 after buying an additional 2,685 shares during the period. Edge Wealth Management LLC raised its holdings in Symantec by 498.7% during the third quarter. Edge Wealth Management LLC now owns 12,015 shares of the technology company’s stock worth $256,000 after purchasing an additional 10,008 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in Symantec during the second quarter worth $250,000. 92.02% of the stock is owned by institutional investors and hedge funds.
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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