Gen Digital (NASDAQ:GEN) Price Target Cut to $24.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Gen Digital’s price target from $26 to $24 while maintaining a “sector perform” rating, implying only 1.3% upside from the stock’s $23.69 opening price.
• Analyst sentiment remains cautious: Gen Digital has an average “Hold” rating and a consensus price target of $30.25, though recent targets from Barclays and Wells Fargo were raised.
• Gen Digital reported better-than-expected quarterly results, with $0.71 in EPS and $1.34 billion in revenue, up 6.3% year over year; institutional investors own 81.38% of the company, while insiders sold $16.4 million of shares during the last quarter.

Gen Digital (NASDAQ:GEN - Get Free Report) had its price objective dropped by equities researchers at Royal Bank Of Canada from $26.00 to $24.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 1.30% from the company's current price.

Several other equities analysts also recently weighed in on GEN. Wall Street Zen downgraded shares of Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Barclays upped their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Gen Digital from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Gen Digital presently has an average rating of "Hold" and a consensus target price of $30.25.

Gen Digital Stock Up 1.9%

Shares of GEN opened at $23.69 on Monday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital has a one year low of $17.78 and a one year high of $31.65. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.73 and a beta of 1.26. The stock has a 50 day moving average price of $27.63 and a 200 day moving average price of $24.78.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities research analysts forecast that Gen Digital will post 2.66 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Bryan Seuk Ko sold 28,248 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $30.67, for a total transaction of $866,366.16. Following the transaction, the chief operating officer owned 744,262 shares of the company's stock, valued at approximately $22,826,515.54. The trade was a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Travis Witteveen sold 30,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares of the company's stock, valued at $14,608,353.90. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 558,508 shares of company stock valued at $16,356,093. 9.70% of the stock is currently owned by insiders.

Institutional Trading of Gen Digital

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Gen Digital by 10.3% in the 3rd quarter. GAMMA Investing LLC now owns 38,455 shares of the company's stock valued at $847,000 after purchasing an additional 3,588 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Gen Digital by 12.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,415 shares of the company's stock valued at $295,000 after buying an additional 1,496 shares during the period. Artemis Investment Management LLP grew its position in shares of Gen Digital by 285.2% during the third quarter. Artemis Investment Management LLP now owns 550,971 shares of the company's stock worth $12,132,000 after buying an additional 407,924 shares in the last quarter. National Pension Service grew its position in shares of Gen Digital by 254.6% during the second quarter. National Pension Service now owns 257,971 shares of the company's stock worth $6,421,000 after buying an additional 185,219 shares in the last quarter. Finally, Capital Analysts LLC grew its position in shares of Gen Digital by 38.7% during the second quarter. Capital Analysts LLC now owns 7,337 shares of the company's stock worth $183,000 after buying an additional 2,049 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Gen Digital Company Profile

Gen Digital Inc is a global cybersecurity and digital safety company that provides products and services designed to help consumers protect their devices, online privacy, personal information and digital identities. Its offerings include antivirus and malware protection, online privacy tools, identity theft protection, password management, scam and fraud protection, and utilities that support device performance and security.

The company markets its products under a portfolio of well-known brands, including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.