Morgan Stanley Has Lowered Expectations for Gen Digital (NASDAQ:GEN) Stock Price

Gen Digital (NASDAQ:GEN - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $27.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 2.27% from the stock's previous close.

Gen Digital Stock Up 0.6 %

Shares of Gen Digital stock traded up $0.15 on Wednesday, hitting $24.45. The company had a trading volume of 3,082,475 shares, compared to its average volume of 3,964,411. The stock has a 50-day moving average of $26.56 and a 200-day moving average of $27.74. 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 twelve month low of $19.58 and a twelve month high of $31.72. The firm has a market capitalization of $15.07 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.19 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Research analysts predict that Gen Digital will post 2.05 earnings per share for the current year.

Institutional Trading of Gen Digital

A number of institutional investors have recently made changes to their positions in the business. Curat Global LLC acquired a new position in shares of Gen Digital during the 1st quarter worth about $154,000. Sagespring Wealth Partners LLC bought a new position in Gen Digital in the first quarter valued at approximately $212,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Gen Digital during the 1st quarter worth approximately $225,000. Merit Financial Group LLC bought a new stake in shares of Gen Digital during the 1st quarter worth approximately $273,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

About Gen Digital

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.