UBS Upgrades Symantec Corporation to Buy with Price Target $24.00

Brokerage firm UBS Upgrades its rating on Symantec Corporation(NASDAQ:SYMC). In a research note issued to the investors, the brokerage major Raises the price-target to $24.00 per share. The shares have been rated Buy. Previously, the analysts had a Sell rating on the shares. The rating by UBS was issued on Jun 20, 2016.

In a different note, On Jun 16, 2016, BTIG Research said it Upgrades its rating on Symantec Corporation. The shares have been rated ‘Buy’ by the firm. On Apr 29, 2016, Citigroup said it Maintains its rating on Symantec Corporation. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 29, 2016, Raymond James said it Downgrades its rating on Symantec Corporation. The shares have been rated ‘Market Perform’ by the firm. On Apr 28, 2016, Wunderlich said it Maintains its rating on Symantec Corporation. In the research note, the firm Lowers the price-target to $25.00 per share. The shares have been rated ‘Hold’ by the firm.

Symantec Corporation (SYMC) shares turned negative on Fridays trading session with the shares closing down -0.81 points or -3.81% at a volume of 1,59,79,446. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.915. The peak price level was also seen at $20.915 while the days lowest was $20.34. Finally the shares closed at $20.43. The 52-week high of the shares is $24.39 while the 52-week low is $16.14. According to the latest information available, the market cap of the company is $12,509 M.

Symantec Corporation(SYMC) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $873.00M. Analysts had an estimated revenue of $878.66M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Suzanne M Vautrinot (director) sold 3,750 shares at $19.00 per share price.Also, On Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 per share price.On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *