Symantec (SYMC) Price Target Increased to $20.00 by Analysts at Deutsche Bank

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Symantec (NASDAQ:SYMC) had its price objective increased by equities research analysts at Deutsche Bank from $18.00 to $20.00 in a research note issued to investors on Friday. The brokerage presently has a “hold” rating on the technology company’s stock. Deutsche Bank’s price objective points to a potential upside of 2.77% from the company’s previous close.

Other equities analysts have also issued reports about the company. First Analysis lowered Symantec from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $23.00 in a research note on Friday, May 11th. Zacks Investment Research raised Symantec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. UBS Group lowered Symantec from an “outperform” rating to a “market perform” rating in a research note on Friday, May 11th. Goldman Sachs Group lowered Symantec from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 16th. Finally, BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.64.

Shares of NASDAQ SYMC opened at $19.46 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 1.15. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.70 and a beta of 0.67. Symantec has a 1 year low of $17.81 and a 1 year high of $34.20.

Symantec (NASDAQ:SYMC) last issued its quarterly earnings results 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. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. equities research analysts forecast that Symantec will post 0.9 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Symantec by 0.4% during 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. grew its position in shares of Symantec by 21.6% in the first quarter. CI Global Investments Inc. now owns 16,695,036 shares of the technology company’s stock valued at $431,567,000 after purchasing an additional 2,962,563 shares during the last quarter. Morgan Stanley grew its position in shares of Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock valued at $187,185,000 after purchasing an additional 5,508,428 shares during the last quarter. First Trust Advisors LP grew its position in shares of Symantec by 59.0% in the second quarter. First Trust Advisors LP now owns 6,116,614 shares of the technology company’s stock valued at $126,308,000 after purchasing an additional 2,268,620 shares during the last quarter. Finally, FMR LLC grew its position in shares of Symantec by 53.4% in the second quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock valued at $93,688,000 after purchasing an additional 1,578,770 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Symantec Company Profile

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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