Evercore ISI Group Initiates Coverage on Symantec Corporation to Sell

Evercore ISI Group Initiates Coverage on Symantec Corporation(NASDAQ:SYMC). The shares have been rated Sell. The rating by Evercore ISI Group was issued on Apr 14, 2016.

In a different note, On Mar 21, 2016, Goldman Sachs said it Assumes its rating on Symantec Corporation. The shares have been rated ‘Neutral’ by the firm. On Mar 11, 2016, RBC Capital said it Upgrades its rating on Symantec Corporation. The shares have been rated ‘Outperform’ by the firm. On Mar 2, 2016, Barclays said it Maintains its rating on Symantec Corporation. In the research note, the firm Lowers the price-target to $24.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Symantec Corporation (SYMC) made into the market gainers list on Mondays trading session with the shares advancing 0.39% or 0.07 points. Due to strong positive momentum, the stock ended at $18.11, which is also near the day’s high of $18.2. The stock began the session at $17.99 and the volume stood at 43,20,165 shares. The 52-week high of the shares is $26.16 and the 52 week low is $16.14. The company has a current market capitalization of $11,812 M and it has 65,22,22,520 shares in outstanding.

Symantec Corporation(SYMC) last announced its earnings results on Feb 4, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $909.00M. Analysts had an estimated revenue of $905.81M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.24.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Mark S. Garfield (SVP and CAO) sold 6,094 shares at $20.33 per share price.Also, On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 per share price.On Dec 4, 2015, Brett Shirk (EVP, Veritas Worldwide Sales) sold 6,628 shares at $19.65 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.

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Symantec Corporation - Is it time to Sell?

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