Symantec (NASDAQ:SYMC)‘s stock had its “hold” rating reaffirmed by research analysts at Evercore ISI in a research note issued on Monday. They currently have a $22.00 price target on the technology company’s stock. Evercore ISI’s target price would suggest a potential upside of 11.11% from the stock’s previous close.

The analysts wrote, “We continue to believe that there is room for improvement, particularly on the enterprise side of Symantec’s business, though Dale Fuller’s experience on the consumer side is likely to be of considerable value, in our view. We envision that some fresh eyes on the board may serve to help accelerate fundamental improvements (particularly on the cost side). With regards to the stock; from a fundamental standpoint we continue to believe that there is a debate on the future growth/margin mix at the company and from a technical standpoint the outstanding audit investigation remains a considerable overhang for most investors. Remain In Line rated.””

Other research analysts also recently issued reports about the company. BidaskClub downgraded Symantec from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Morgan Stanley lowered their target price on Symantec from $26.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, June 25th. UBS Group lowered their target price on Symantec from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, August 3rd. Stifel Nicolaus lowered their target price 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, Zacks Investment Research upgraded Symantec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the company’s stock. Symantec currently has a consensus rating of “Hold” and a consensus target price of $24.55.

SYMC traded down $0.23 during trading on Monday, reaching $19.80. 3,609,871 shares of the company traded hands, compared to its average volume of 8,210,232. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 1.15. Symantec has a 12-month low of $17.81 and a 12-month high of $34.20. The firm has a market cap of $12.49 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.65.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Symantec had a net margin of 25.52% and a return on equity of 14.54%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $0.33 EPS. The company’s revenue was up 3.3% on a year-over-year basis. sell-side analysts anticipate that Symantec will post 0.9 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Symantec by 0.4% in the second quarter. BlackRock Inc. now owns 40,628,486 shares of the technology company’s stock worth $838,978,000 after buying an additional 145,704 shares during the last quarter. CI Global Investments Inc. lifted its position in Symantec by 21.6% in the first quarter. CI Global Investments Inc. now owns 16,695,036 shares of the technology company’s stock worth $431,567,000 after buying an additional 2,962,563 shares during the last quarter. Morgan Stanley lifted its position in Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after buying an additional 5,508,428 shares during the last quarter. First Trust Advisors LP lifted its position in Symantec by 59.0% in the second quarter. First Trust Advisors LP now owns 6,116,614 shares of the technology company’s stock worth $126,308,000 after buying an additional 2,268,620 shares during the last quarter. Finally, FMR LLC lifted its position in Symantec by 53.4% in the second quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock worth $93,688,000 after buying an additional 1,578,770 shares during the last quarter. Institutional investors own 92.27% of the company’s stock.

About Symantec

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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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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