Morgan Stanley Initiates Coverage on Gen Digital (NASDAQ:GEN)

Investment analysts at Morgan Stanley initiated coverage on shares of Gen Digital (NASDAQ:GEN) in a research note issued to investors on Tuesday. The firm set an “equal weight” rating on the stock.

Separately, UBS Group upgraded Gen Digital to a “strong-buy” rating in a report on Wednesday, December 4th.

Gen Digital Stock Up 0.4 %

GEN opened at $27.90 on Tuesday. The business has a 50 day moving average price of $27.44 and a 200 day moving average price of $27.91. Gen Digital has a twelve month low of $19.58 and a twelve month high of $31.72. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $17.19 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Gen Digital (NASDAQ:GEN) last posted its earnings results 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%. Research analysts forecast that Gen Digital will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC raised its stake in shares of Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock valued at $690,000 after purchasing an additional 1,299 shares in the last quarter. QSM Asset Management Ltd bought a new stake in shares of Gen Digital during the fourth quarter worth $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital during the fourth quarter valued at $14,367,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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.