Symantec Corporation (SYMC) : Traders are bullish on Symantec Corporation (SYMC) as it has outperformed the S&P 500 by a wide margin of 15.32% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.27%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.24% in the last 1 week, and is up 15.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Symantec Corporation is up 41.26% in the last 3-month period. Year-to-Date the stock performance stands at 42.45%. The stock has recorded a 20-day Moving Average of 10.89% and the 50-Day Moving Average is 15.07%.
Symantec Corporation (NASDAQ:SYMC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.42 and $23.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.72, notching a gain of 2.64% for the day. The total traded volume was 12,978,810 . The stock had closed at $23.11 on the previous day.
Also, Citigroup upgrades their rating on the shares of Symantec Corporation (NASDAQ:SYMC). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. Equity Analysts at the Firm raises the price target to $26.5 per share from $7.5 per share. The rating by the firm was issued on August 19, 2016.
Symantec Corporation provides security, backup and availability solutions. The Company operates in three segments: Consumer Security, Enterprise Security, and Information Management. The Companys 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 Companys enterprise security support program offers annual maintenance support contracts, including content, upgrades and technical support. The Companys 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.