Wells Fargo & Company Initiates Coverage on Gen Digital (NASDAQ:GEN)

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Gen Digital (NASDAQ:GEN) in a report released on Tuesday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $22.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 1.30% from the company’s previous close.

Several other equities analysts also recently commented on GEN. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gen Digital in a report on Thursday, January 22nd. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lowered their price target on shares of Gen Digital from $33.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Wall Street Zen upgraded Gen Digital from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Finally, Evercore increased their target price on Gen Digital from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Gen Digital currently has a consensus rating of “Hold” and a consensus target price of $32.71.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $22.29 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.50. The business’s 50 day moving average price is $24.71 and its two-hundred day moving average price is $26.75. The company has a market cap of $13.50 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 0.75 and a beta of 1.11. Gen Digital has a twelve month low of $21.33 and a twelve month high of $32.22.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, February 5th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. On average, analysts predict that Gen Digital will post 2.05 EPS for the current year.

Insider Activity

In other Gen Digital news, Director Ondrej Vlcek sold 113,674 shares of Gen Digital stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $27.12, for a total value of $3,082,838.88. Following the completion of the transaction, the director directly owned 3,932,980 shares of the company’s stock, valued at $106,662,417.60. The trade was a 2.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aviva PLC raised its holdings in shares of Gen Digital by 6.6% during the 2nd quarter. Aviva PLC now owns 407,156 shares of the company’s stock worth $11,970,000 after buying an additional 25,315 shares in the last quarter. Schroder Investment Management Group raised its stake in Gen Digital by 48.1% during the second quarter. Schroder Investment Management Group now owns 978,066 shares of the company’s stock worth $28,755,000 after acquiring an additional 317,468 shares in the last quarter. Vanguard Group Inc. raised its stake in Gen Digital by 1.4% during the third quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock worth $2,050,150,000 after acquiring an additional 964,046 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Gen Digital in the second quarter worth about $394,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Gen Digital by 39.4% in the 2nd quarter. Mackenzie Financial Corp now owns 359,142 shares of the company’s stock valued at $10,559,000 after purchasing an additional 101,580 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Company Profile

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.