JMP Securities Believes SYMC Still Has Room to Grow

By Austin Angelo

In a report released today, Patrick Walravens from JMP Securities reiterated a Buy rating on Symantec Corp (NASDAQ: SYMC). The company’s shares closed yesterday at $24.52, close to its 52-week high of $25.72.

According to TipRanks.com, Walravens is a 5-star analyst with an average return of 8.1% and a 59.2% success rate. Walravens covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and Coupa Software Inc.

Currently, the analyst consensus on Symantec Corp is Moderate Buy and the average price target is $27.11, representing a 10.6% upside.

In a report issued on November 15, RBC Capital also maintained a Buy rating on the stock with a $28 price target.

Symantec Corp’s market cap is currently $15.28B and has a P/E ratio of 7.38. The company has a book value ratio of 3.9577.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Amy Cappellanti-Wolf, the SVP, Chief Human Resource Off. of SYMC sold 15,474 shares for a total of $385,026.

Symantec Corp. engages in the provision of security, storage, and systems management solutions. It operates through the following segments: Consumer Security, Enterprise Security, and Information Management. The Consumer Security segment offers multi-layer security and identity protection on major desktop and mobile operating systems through their Norton-branded services. The Enterprise Security segment includes secure socket layer certificates, authentication, mail and web security, data center security, data loss prevention, information security services, endpoint security and management, encryption, and mobile offerings to organizations. The information Management segment focuses on back up and recovery, archiving and eDiscovery, and storage. The company was founded by Gary Hendrix in April 1982 and is headquartered in Mountain View, CA.