Can NortonLifeLock (NLOK) catch lightning in a bottle twice in one year? In May its stock jumped 24% in three days after it reported outstanding financial results. The cybersecurity software maker then went on to hit an all-time high in mid-June before consolidating. Its stock is on an upward march again. And on Thursday, NortonLifeLock stock’s Relative Strength Rating
rose to 72, up from 69 the prior day.
The new 72 Relative Strength Rating for NortonLifeLock stock shows that it’s outperformed 72% of all stocks in the IBD database over the past year. Growth stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves. See if NortonLifeLock can continue to rebound and hit that benchmark.
NortonLifeLock Stock Lifted By Strong Profit Growth
Former virus protection software maker Symantec in 2017 bought LifeLock, an identity theft protection company. LifeLock monitors for identity theft, unauthorized use of information and credit card theft and card score changes. The merged company renamed itself NortonLifeLock.
Regarding fundamentals, EPS grew 35% in the company’s most recently reported quarter, to 42 cents, on a 12% increase in revenue to $686 million. NortonLifeLock has reported double- or triple-digit profit growth for at least the last four consecutive quarters.
Peers In Computer Software Security Group
NortonLifeLock stock earns the No. 12 rank among its peers in the Computer Software-Security industry group. Zscaler (ZS) and Mimecast (MIME) are among the group’s highest-rated stocks.
See How IBD Helps You Make More Money In Stocks
NortonLifeLock stock is trying to complete a cup-without-handle with a 29.02 entry. See if it can break out in heavy trading. Its stock closed at 27.38 Thursday, down fractionally. On June 10, it hit a fresh all-time intraday high at 28.92. It then dropped as low as 23.67 on Aug. 5 before rebounding. The 29.02 entry is 10 cents above its prior peak.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price behavior over the last 52 weeks compares to all the other stocks in our database.
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