Barclays Increases Gen Digital (NASDAQ:GEN) Price Target to $32.00

Gen Digital (NASDAQ:GEN) had its target price lifted by Barclays from $30.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.99% from the stock’s current price.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada upped their target price on Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. Evercore ISI began coverage on Gen Digital in a report on Tuesday, July 1st. They issued an “outperform” rating and a $35.00 target price for the company. Wall Street Zen cut Gen Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Morgan Stanley dropped their target price on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, B. Riley began coverage on Gen Digital in a report on Monday. They issued a “buy” rating and a $46.00 target price for the company. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Gen Digital has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Gen Digital Stock Up 0.4%

Shares of GEN opened at $29.91 on Monday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital has a one year low of $22.74 and a one year high of $31.72. The stock has a market capitalization of $18.55 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.11 and a beta of 1.01. The stock has a 50 day moving average price of $29.09 and a 200 day moving average price of $27.51.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.48 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts forecast that Gen Digital will post 2.05 earnings per share for the current fiscal year.

Insider Activity at Gen Digital

In other 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 transaction, the director owned 34,860 shares of the company’s stock, valued at $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gen Digital

Large investors have recently modified their holdings of the business. Mather Group LLC. lifted its stake in shares of Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company’s stock valued at $99,000 after purchasing an additional 783 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company’s stock worth $16,039,000 after acquiring an additional 341,533 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in Gen Digital during the 1st quarter worth about $377,000. Wellington Management Group LLP lifted its stake in Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after acquiring an additional 56,993 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company’s stock worth $296,000 after acquiring an additional 3,830 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

About Gen Digital

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.