Stock of the Day

May 17, 2023

Gen Digital (GEN)

$26.74
-$0.27 (-1.0%)
Market Cap: $16.27B

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. It also provides identity protection solutions, including LifeLock Identity Theft Protection, Avast and AVG Secure Identity, Norton Identity Theft Protection, and Dark Web Monitoring for monitoring of credit reports, financial accounts, the dark web, and social media accounts to help safeguard customers' personal information. In addition, the company offers Virtual Private Network (VPN) solutions under Norton, Avast and AVG brands to enhance security and online privacy that allows customers to securely transmit and access private information, such as passwords, bank details, and credit card numbers, when using public Wi-Fi on PCs, Macs, and mobile iOS and Android devices; AntiTrack and Secure Browser products which helps to keep personal information and browsing activity anonymous while browsing online; and Privacy Monitor Assistant and BreachGuard products for removing customers' data from public data broker sites; and ReputationDefender, a white glove service that helps customers manage all aspects of their personal branding online, including search results, social media sites, and overall web presence. It markets and sells its products and related services through retailers, telecom service providers, hardware original equipment manufacturers, and employee benefit providers, as well as e-commerce platform. The company was formerly known as NortonLifeLock Inc. and changed its name to Gen Digital Inc. in November 2022. Gen Digital Inc. was founded in 1982 and is headquartered in Tempe, Arizona.

Today's Trend

Gen Digital Inc. (NASDAQ: GEN) shares are moving higher after the company reported strong fiscal Q4 results and raised outlook for fiscal 2027, while also announcing a quarterly dividend and getting a modest price-target increase from RBC.

  • Gen Digital beat quarterly expectations, with revenue and EPS both coming in above estimates, and said Trust-Based Solutions revenue surged sharply year over year. The results suggest improving growth momentum and stronger demand in cybersecurity. Article Title
  • The company raised fiscal 2027 guidance above Wall Street expectations, pointing to 8%–10% revenue growth and adjusted EPS of $2.85–$2.95, which reinforced optimism about future earnings power. Article Title
  • RBC lifted its price target on Gen Digital to $24 from $22, signaling slightly improved analyst confidence even though the firm kept a “sector perform” rating. Article Title
  • Gen Digital announced a quarterly dividend of $0.125 per share, which may support income-focused investors but is not a major growth catalyst by itself.

Overall, GEN is benefiting from a clean earnings beat, better-than-expected guidance, and positive commentary around cybersecurity demand and AI-driven efficiency, all of which help explain the stock’s upward move.

← Previous Stock of the DayNext Stock of the Day →

Recent News