RBC Capital Reiterates Their Hold Rating on Symantec Corp

By Carrie Williams

In a report released yesterday, Ross MacMillan from RBC Capital reiterated a Hold rating on Symantec Corp (NASDAQ: SYMC), with a price target of $32. The company’s shares opened today at $31.07.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 24.1% and a 85.2% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Verint Systems Inc.

Currently, the analyst consensus on Symantec Corp is Moderate Buy and the average price target is $33.20, representing a 6.9% upside.

In a report issued on July 17, Stifel Nicolaus also reiterated a Hold rating on the stock with a $27 price target.

Based on Symantec Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.12 billion and GAAP net loss of $136 million. In comparison, last year the company earned revenue of $884 million and had a net profit of $97 million.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock.

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Symantec Corp. engages in the provision of security, storage, and systems management solutions. It operates through two segments: Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment focuses on providing a digital safety solution to protect information, devices, networks and the identities of consumers.