Gen Digital (NASDAQ:GEN) Shares Gap Down on Disappointing Earnings

Gen Digital Inc. (NASDAQ:GEN)’s stock price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $27.89, but opened at $26.61. Gen Digital shares last traded at $26.93, with a volume of 664,158 shares.

The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gen Digital had a return on equity of 55.47% and a net margin of 16.08%.

Analysts Set New Price Targets

GEN has been the topic of several research reports. Wells Fargo & Company raised shares of Gen Digital to a “strong-buy” rating in a research report on Thursday, October 24th. UBS Group raised Gen Digital to a “strong-buy” rating in a research report on Wednesday, December 4th.

Gen Digital Stock Performance

The stock’s 50-day moving average price is $28.57 and its 200 day moving average price is $27.41. The firm has a market cap of $16.57 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.32 and a quick ratio of 0.32.

Gen Digital Company Profile

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.