Gen Digital (NASDAQ:GEN) Coverage Initiated at Morgan Stanley

Research analysts at Morgan Stanley began coverage on shares of Gen Digital (NASDAQ:GEN) in a research note issued on Tuesday. The firm set an “equal weight” rating on the stock.

Separately, UBS Group raised Gen Digital to a “strong-buy” rating in a research report on Wednesday, December 4th.

Gen Digital Stock Down 1.2 %

Shares of Gen Digital stock traded down $0.33 on Tuesday, reaching $27.52. 115,742 shares of the company were exchanged, compared to its average volume of 3,403,707. The stock’s 50 day moving average price is $27.41 and its 200-day moving average price is $27.90. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.35 and a quick ratio of 0.35. Gen Digital has a 1-year low of $19.58 and a 1-year high of $31.72. The company has a market cap of $16.96 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. As a group, equities analysts forecast that Gen Digital will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC grew its holdings in Gen Digital by 5.4% during the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock valued at $690,000 after buying an additional 1,299 shares during the last quarter. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital during the fourth quarter valued at $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital during the 4th quarter worth about $14,367,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

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.