Gen Digital (NASDAQ:GEN) Price Target Cut to $25.00 by Analysts at Morgan Stanley

Gen Digital (NASDAQ:GEN) had its target price cut by Morgan Stanley from $27.00 to $25.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Gen Digital Stock Down 1.9 %

Shares of Gen Digital stock opened at $24.30 on Wednesday. Gen Digital has a 1 year low of $19.58 and a 1 year high of $31.72. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.19 and a beta of 1.01. The company has a 50-day moving average of $26.70 and a 200 day moving average of $27.78. 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 (NASDAQ:GEN) 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 net margin of 16.32% and a return on equity of 58.83%. As a group, sell-side analysts anticipate that Gen Digital will post 2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gen Digital

Hedge funds have recently added to or reduced their stakes in the stock. Curat Global LLC purchased a new position in shares of Gen Digital in the 1st quarter worth about $154,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Gen Digital in the first quarter worth approximately $225,000. Merit Financial Group LLC bought a new position in shares of Gen Digital in the first quarter worth approximately $273,000. Kera Capital Partners Inc. grew its holdings in shares of Gen Digital by 41.7% during the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock valued at $313,000 after buying an additional 3,466 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Gen Digital by 15.1% during the first quarter. GAMMA Investing LLC now owns 12,139 shares of the company’s stock valued at $322,000 after acquiring an additional 1,593 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

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.