Gen Digital (NASDAQ:GEN) Shares Up 3% - What's Next?

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) shares were up 3% on Monday . The stock traded as high as $28.08 and last traded at $27.85. Approximately 3,194,030 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 3,633,850 shares. The stock had previously closed at $27.03.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Gen Digital in a report on Tuesday. They set an "equal weight" rating for the company. UBS Group upgraded Gen Digital to a "strong-buy" rating in a research note on Wednesday, December 4th.

Gen Digital Stock Performance

The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 1.19 and a beta of 0.92. The firm has a fifty day simple moving average of $27.45 and a 200-day simple moving average of $27.91.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

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Hedge Funds Weigh In On Gen Digital

Institutional investors have recently modified their holdings of the business. Brighton Jones LLC increased its stake in Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after buying an additional 1,299 shares during the last quarter. QSM Asset Management Ltd acquired a new stake in Gen Digital during the 4th quarter valued at $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gen Digital during the 4th quarter worth about $14,367,000. Institutional investors own 81.38% of the company's stock.

Gen Digital Company Profile

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.