NortonLifeLock (NASDAQ:NLOK) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage currently has a $30.00 target price on the stock. Bank of America‘s price target would suggest a potential upside of 28.48% from the company’s previous close.
NLOK has been the subject of a number of other research reports. Credit Suisse Group lifted their target price on NortonLifeLock from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, February 5th. Morgan Stanley lifted their target price on NortonLifeLock from $25.50 to $26.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $25.30.
Shares of NASDAQ NLOK opened at $23.35 on Wednesday. The company has a market cap of $13.59 billion, a PE ratio of 4.61, a P/E/G ratio of 2.78 and a beta of 0.79. The business has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $20.73. NortonLifeLock has a fifty-two week low of $17.98 and a fifty-two week high of $24.40.
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NortonLifeLock (NASDAQ:NLOK) last released its earnings results on Monday, May 10th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. NortonLifeLock had a return on equity of 33.48% and a net margin of 131.80%. The firm had revenue of $672.00 million during the quarter, compared to the consensus estimate of $659.06 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that NortonLifeLock will post 1.25 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its position in shares of NortonLifeLock by 15.7% in the first quarter. Mercer Global Advisors Inc. ADV now owns 391,422 shares of the company’s stock valued at $8,322,000 after buying an additional 53,189 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in shares of NortonLifeLock in the first quarter valued at approximately $140,270,000. Teacher Retirement System of Texas increased its position in shares of NortonLifeLock by 46.0% in the first quarter. Teacher Retirement System of Texas now owns 127,735 shares of the company’s stock valued at $2,716,000 after buying an additional 40,247 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of NortonLifeLock by 46.4% during the first quarter. First Horizon Advisors Inc. now owns 21,537 shares of the company’s stock worth $457,000 after purchasing an additional 6,824 shares in the last quarter. Finally, CIBC World Markets Inc. increased its position in shares of NortonLifeLock by 75.1% during the first quarter. CIBC World Markets Inc. now owns 31,481 shares of the company’s stock worth $669,000 after purchasing an additional 13,507 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.
NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company offers Norton security solutions as a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.
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