Symantec Corporation (SYMC) was Upgraded by UBS to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 24 from a previous price target of $16 . Earlier the firm had a rating of “Sell ” on the company shares. UBS advised their investors in a research report released on Jun 20, 2016.
Many Wall Street Analysts have commented on Symantec Corporation. Shares were Reiterated by Topeka Capital Markets on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 20 from a previous price target of $23 .Shares were Reiterated by Wunderlich on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 19 from a previous price target of $25 .Symantec Corporation was Downgraded by Raymond James to ” Mkt Perform” on Apr 28, 2016.
On the company’s financial health, Symantec Corporation reported $0.22 EPS for the quarter, based on the information available during the earnings call on May 12, 2016. Analyst had a consensus estimate of $0.22. The company had revenue of $873.00 million for the quarter, compared to analysts expectations of $873.08 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.
Symantec Corporation opened for trading at $19.86 and hit $20.62 on the upside on Friday, eventually ending the session at $19.97, with a gain of 0.96% or 0.19 points. The heightened volatility saw the trading volume jump to 3,93,77,188 shares. Company has a market cap of $12,227 M.
In a different news, on Jun 16, 2016, Suzanne M Vautrinot (director) sold 3,750 shares at $19.00 per share price. According to the SEC, on Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 per share price. On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 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.