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Symantec Boosts Endpoint Security Portfolio With New Upgrade

Zacks Equity Research

Symantec Corp. SYMC recently announced that it is improving its endpoint portfolio by upgrading Symantec Endpoint Security (SES), which now offers a comprehensive solution for protection, detection and response, leveraging analytics.

With capabilities like new attack surface reduction, threat hunting, and breach analysis and prevention, the SES addresses the need of security teams for simple, unified and flexible solutions to protect organizations from sophisticated attacks. Moreover, SES also provides automated assistance with security management to quickly evaluate risks and respond to them.

Symantec Endpoint Security can be rolled out and managed with single agent installation via cloud, on-premise, or a combination of both, for all operating systems including mobile devices. Enterprise customers having their own resources can choose the new Threat Hunting Center add-on to automate threat detection across all security devices present at its Security Operations Center.

Symantec Corporation Price and Consensus

Symantec Corporation Price and Consensus

Symantec Corporation price-consensus-chart | Symantec Corporation Quote

Bright Prospects for Endpoint Security

The endpoint security market is benefiting from rampant data breaches at organizations. Further, a spate of unknown and new attacks in endpoint networks is leading to rapid adoption of endpoint security systems among enterprises. Increasing deployment of IoT and robust demand for smart devices are also key drivers.

Per a Fortune Business Insights report, the endpoint security market is expected to increase from $5.3 billion in 2018 to $10.03 billion in 2026 at a CAGR of 8.4%.

Moreover, per ResearchAndMarkets, the endpoint security market is forecast to grow 8.9% year over year to $13 billion in 2019. The market is expected to witness CAGR of 6.6% between 2018 and 2023.

Symantec Making a Mark in Endpoint Security

Symantec has made a big play in the endpoint security market. The growing security threats and potential hacking attacks are leading the company to take strong steps to address endpoint security issues.

In September this year, the Symantec Endpoint Protection (SEP) Mobile became FirstNet Listed, making its mobile threat defense accessible to federal, state and local public security professionals nationwide through the FirstNet App Catalog.

In the same month, Symantec announced that it has been awarded Best Enterprise Endpoint and Best Email Security Service by SE Labs.

In August, Symantec revealed that it was positioned in the Leaders quadrant of the 2019 “Magic Quadrant for Endpoint Protection Platforms.” by Gartner. Notably, Symantec has been positioned in the Leaders quadrant in every Gartner Magic Quadrant for Endpoint Protection Platforms report published since 2002.

Moreover, Symantec Managed Security Services Advanced Threat Protection is also gaining popularity by helping organizations to assess the level of vulnerabilities, detect threats and mitigate intellectual property theft.

In December last year, Symantec and Fortinet FTNT expanded their partnership to strengthen cyber security solutions to combat the growing sophistication of cyber threats. To accomplish this, Symantec’s endpoint protection solutions were integrated into Fortinet Security Fabric to provide real-time threat intelligence for cyber-attacks and advanced malware.

Competition Looms

In an era of increasing cyber threats, many small and large companies including independent security vendors are ramping up efforts to strengthen their foothold in the endpoint security market.

For instance, competition from Sophos is growing. At CRN 2019 ARW awards, Sophos was voted the industry’s best in all three security categories, namely Network, Endpoint and Data apart from all 12 other subcategories owing to its product strength, innovation and channel leadership. Moreover, it recently partnered with SYNNEX SNX boosting the latter’s cybersecurity offerings, and increasing its reach to SYNNEX’s wide customer base.

Moreover, Cisco’s CSCO stronghold in endpoint security is also a concern for Symantec.

Nonetheless, Symantec’s efforts to strengthen its endpoint security capabilities are likely to be a key growth catalyst, and help it to maintain its share in the market.

The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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