Gen Digital (NASDAQ:GEN) Earns Outperform Rating from Analysts at Evercore ISI

Stock analysts at Evercore ISI initiated coverage on shares of Gen Digital (NASDAQ:GEN - Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The firm set an "outperform" rating and a $35.00 price target on the stock. Evercore ISI's target price would indicate a potential upside of 17.41% from the stock's current price.

Several other research firms also recently issued reports on GEN. Royal Bank Of Canada increased their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Gen Digital from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Morgan Stanley lowered their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $30.00.

Gen Digital Price Performance

Shares of GEN stock traded up $0.01 during mid-day trading on Tuesday, hitting $29.81. 2,539,802 shares of the stock were exchanged, compared to its average volume of 3,751,576. Gen Digital has a 52-week low of $22.74 and a 52-week high of $31.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The company has a market cap of $18.49 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The firm has a fifty day moving average of $28.21 and a 200 day moving average of $27.39.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. Gen Digital's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Research analysts anticipate that Gen Digital will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares in the company, valued at $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.20% of the company's stock.

Hedge Funds Weigh In On Gen Digital

Institutional investors and hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC increased its position in shares of Gen Digital by 0.8% during the 1st quarter. Voya Investment Management LLC now owns 164,625 shares of the company's stock worth $4,369,000 after purchasing an additional 1,286 shares during the last quarter. First Hawaiian Bank boosted its stake in Gen Digital by 129.6% during the first quarter. First Hawaiian Bank now owns 75,278 shares of the company's stock worth $1,998,000 after buying an additional 42,488 shares during the period. Modern Wealth Management LLC acquired a new stake in shares of Gen Digital during the first quarter valued at about $423,000. Strs Ohio purchased a new stake in shares of Gen Digital in the 1st quarter valued at approximately $1,505,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after acquiring an additional 1,183 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.