Symantec Corporation (NASDAQ:SYMC)‘s stock had its “buy” rating reiterated by equities research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. They presently have a $40.00 price target on the technology company’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 20.92% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the stock a “hold” rating in a research report on Saturday, June 10th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research report on Saturday, June 10th. UBS AG cut Symantec Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $33.00 in a research report on Thursday, May 18th. Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Barclays PLC restated an “overweight” rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.48.

Symantec Corporation (NASDAQ SYMC) opened at 33.08 on Tuesday. The firm’s market cap is $20.27 billion. The company’s 50-day moving average is $29.82 and its 200 day moving average is $30.05. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $34.17.

Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $0.29 earnings per share. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. Equities research analysts expect that Symantec Corporation will post $1.81 EPS for the current fiscal year.

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In related news, EVP Roxane Divol sold 15,111 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $33.05, for a total value of $499,418.55. Following the transaction, the executive vice president now directly owns 114,940 shares of the company’s stock, valued at $3,798,767. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total value of $64,565.55. Following the completion of the transaction, the senior vice president now directly owns 115,997 shares in the company, valued at $3,462,510.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,672,732 shares of company stock worth $48,674,230. 1.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SYMC. BlackRock Inc. lifted its stake in Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares during the period. Capital Research Global Investors lifted its stake in Symantec Corporation by 1,784.9% in the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after buying an additional 13,546,895 shares during the period. Janus Henderson Group PLC lifted its stake in Symantec Corporation by 10,624.9% in the second quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock valued at $270,583,000 after buying an additional 9,488,859 shares during the period. CI Global Investments Inc. acquired a new position in Symantec Corporation in the second quarter valued at approximately $186,563,000. Finally, Renaissance Technologies LLC lifted its stake in Symantec Corporation by 405.7% in the second quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock valued at $137,234,000 after buying an additional 3,897,200 shares during the period. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

Symantec Corporation Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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