Price Target Overview of Symantec Corporation (SYMC)
May 12 2018
The stock of Symantec Corporation (NASDAQ:SYMC) earned "Buy" rating by Citigroup on Monday, August 22.
More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Seekingalpha.com which released: "Symantec -25.5% as analysts downgrade on audit investigation" on May 11, 2018, also Seekingalpha.com with their article: "Symantec: A Risky Hold Through Earnings" published on May 06, 2018, Streetinsider.com published: "Pre-Open Movers 05/11: (TTD) (IMMR) (AKCA) Higher; (SYMC) (CYTR) (RDFN) Lower (more...)" on May 11, 2018. Barclays lowered shares of Symantec from an "overweight" rating to an "equal weight" rating in a research note on Friday. The firm has "Market Perform" rating by JMP Securities given on Friday, April 27. On Tuesday, August 2 the stock rating was maintained by Jefferies with "Hold".
In other Symantec news, Director Suzanne M. Vautrinot sold 4,000 shares of the firm's stock in a transaction on Friday, March 9th. The stock had a trading volume of 1,676,065 shares, compared to its average volume of 5,066,621. The company rocked its 52-Week High of $34.2 and touched its 52-Week Low of $24.93.
While Gartner Inc. predicts worldwide cybersecurity spending will rise 8 percent to $97 billion this year, Symantec is struggling with a decreasing number of people buying antivirus software for PCs, which historically has been a strong market. As per Thursday, February 1, the company rating was maintained by Cowen & Co. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.07. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.19 billion. While in the same Quarter Previous year, the Actual EPS was $0.28.
Symantec's full-year profit outlook of between US$1.50 and US$1.65 per share also came in below estimates of US$1.80. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. It also gave a disappointing forecast for yearly revenue and profit. The shares were sold at an average price of $27.72, for a total value of $110,880.00. Following the completion of the transaction, the executive vice president now owns 188,426 shares in the company, valued at approximately $5,202,441.86. As per Thursday, November 2, the company rating was maintained by Stifel Nicolaus.
Several hedge funds and other institutional investors have recently modified their holdings of SYMC. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Symantec by 3.0% in the 1st quarter. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company's stock. Its down 66.67% from 1,200 shares previously. Moreover, Scge Management L.P. has 6.97% invested in the company for 1.58 million shares. Lenox Wealth Advisors Inc. bought a new position in Symantec during the fourth quarter valued at approximately $224,000.