Gen Digital (NASDAQ:GEN) Price Target Cut to $26.00 by Analysts at Royal Bank Of Canada

Gen Digital (NASDAQ:GEN) had its price objective lowered by research analysts at Royal Bank Of Canada from $30.00 to $26.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 14.46% from the stock’s current price.

Several other research firms also recently issued reports on GEN. Barclays increased their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wells Fargo & Company increased their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.80.

Gen Digital Stock Performance

NASDAQ GEN opened at $22.72 on Friday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $13.60 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22. The company has a 50-day simple moving average of $28.62 and a 200 day simple moving average of $24.70. Gen Digital has a 52-week low of $17.78 and a 52-week high of $31.65.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.During the same quarter in the prior year, the business earned $0.64 earnings per share. Gen Digital’s revenue for the quarter was up 6.3% on a year-over-year basis. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. On average, research analysts predict that Gen Digital will post 2.64 EPS for the current year.

Insider Buying and Selling

In other news, COO Bryan Seuk Ko sold 28,248 shares of Gen Digital stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total transaction of $866,366.16. Following the completion of the transaction, the chief operating officer directly owned 744,262 shares in the company, valued at approximately $22,826,515.54. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Travis Witteveen sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 558,508 shares of company stock valued at $16,356,093 over the last ninety days. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors have recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of Gen Digital by 14.3% during the 4th quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after acquiring an additional 1,954,712 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gen Digital by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 15,592,196 shares of the company’s stock worth $422,461,000 after purchasing an additional 129,413 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after acquiring an additional 4,115,676 shares during the period. Legal & General Group Plc purchased a new stake in Gen Digital during the 2nd quarter valued at approximately $225,169,000. Finally, Deutsche Bank AG purchased a new position in Gen Digital during the second quarter valued at $146,639,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

About Gen Digital

Gen Digital Inc (NASDAQ: GEN) is a global cybersecurity and consumer safety company that provides products designed to help individuals and families protect their devices, online identities, personal information and digital privacy. The company serves customers through a portfolio of consumer-focused cybersecurity and privacy brands.

Its products and services include antivirus and device security, identity theft protection, virtual private networks, password management, online privacy tools, scam protection and family safety features.