|Bid||19.55 x 1400|
|Ask||19.67 x 800|
|Day's Range||19.54 - 20.10|
|52 Week Range||17.81 - 32.95|
|Beta (3Y Monthly)||0.34|
|PE Ratio (TTM)||10.73|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||0.30 (1.46%)|
|1y Target Est||21.97|
The search for software stocks to buy provides both opportunities and challenges. With a little research, investors can find these software stocks before valuations move too high. Progress Software (NASDAQ:PRGS) provides software-based security solutions via the cloud.
On October 11, FireEye (FEYE) was trading at a forward EV-to-EBITDA multiple of ~26.1x as compared to the industry average of 8.1x, which indicates that the stock is trading at a huge premium as compared to its industry average. The company’s products are gradually becoming the first line of defense for many organizations, which is a positive for the company. Moreover, the higher adoption of the Helix interface, iSIGHT Intelligence, and the Mandiant service is further allowing analysts to remain bullish on FireEye stock.
Cybersecurity company Symantec (SYMC) has declined 38% in the last 12 months, 30% since the start of 2018, and 8.6% in October. The stock fell a whopping 33% on May 11 this year after Symantec revealed that it was launching an internal investigation into concerns raised by a former employee. Analysts expect Symantec’s revenue to fall 4.8% to $4.73 billion in fiscal 2019, which ends in March, and then rise 4.6% to $4.95 billion in 2020. A decline in sales is expected to drag EPS (earnings per share) lower by 10.7% for Symantec in 2019.
The technology sector is the weakest of the S&P 500's 11 key sectors, with the SPDR Technology Select Sector ETF tumbling 4.5% toward the biggest one-day decline since August 2011. Of the ETF's 65 equity components, only Symantec Corp.'s stock traded up, just 0.2%. Of the biggest decliners, shares of Advanced Micro Devices Inc. fell 8.2%, Nvidia Corp. shed 6.9% and Saleforce.com slid 6.8%. The technology-friendly Nasdaq 100 gave up 3.9% while the S&P 500 dropped 2.8%.
Amazon's (AMZN) AWS wins multi-year contracts from Symantec and SAP. This is likely to aid its dominant position in the global cloud market.
Symantec's (SYMC) new enhancements on its Integrated Cyber Defense Platform aim to address security and compliance issues related to growing migration of enterprise data to the cloud.
On October 9, Symantec (SYMC) strengthened its cloud security offerings by adding some advanced features. The new Cloud Workload Assurance (or CWA) feature helps Microsoft’s (MSFT) Azure and Amazon’s (AMZN) AWS (Amazon Web Services) cloud customers to discover security and compliance risks in their cloud environments, thus avoiding cloud misconfigurations that may lead to data breaches. Symantec’s Cloud Workload Protection (or CWP) for storage has also been upgraded with data loss prevention features.
The contracts are each worth $500 million over 5 years, the text of an Amazon email from September showed. AWS, Microsoft and Alphabet Inc.'s Google have all tried to woo organizations and companies by touting the capabilities and performance of their services, which help organizations store and process data remotely, build new applications and adopt new technologies including artificial intelligence.
Integrated approach to cloud security, compliance and management delivers ‘no compromises’ visibility and control to IaaS, PaaS and SaaS applications
Google will strengthen Chrome's security with its next release, but that might have some unintended consequences for the sites you use. Security researcher Scott Helme has found that hundreds of the top 1 million sites are using old Symantec HTTPS certificates (pre-June 2016) that won't be trusted when Chrome 70 arrives as soon as October 16th. Some of these are vital sites, too, including multiple Indian government sites, the government of Tel Aviv and Penn State Federal Credit Union.
Cybersecurity plays a critical role in IT infrastructure. During the PC era, cybersecurity stocks such as Symantec (NASDAQ:SYMC) would often rise soon after such breaches, as firms of all types tend to spend on these occasions to give themselves as much protection as possible. Today, with the wide range of networks and devices in need of protection, such breaches may not necessarily lift all cybersecurity stocks.
Cyber experts from federal civilian, defense, intelligence and state/local agencies to discuss the need to redefine how government approaches security
In May, Symantec (SYMC) launched a months-long probe of its accounting practices following an alert from a former employee. The probe didn’t find any serious flaws with Symantec’s financial reporting except a particular transaction that was recognized wrongly in the company’s fiscal 2018 fourth quarter, which ended in March. Symantec stock plunged as the probe got underway, as investors feared the outcome could significantly alter the company’s previous financial reports.
In the wake of Facebook’s recent security vulnerability, and the prevalence of data breaches in today’s online world, Norton by Symantec (SYMC) is encouraging consumers to take an active role in monitoring and helping protect their private and personal information. As this security vulnerability marks yet another incident affecting tens of millions of accounts worldwide, it’s an opportunity to educate consumers on what they can do to better protect their information and enhance their cyber safety. “In today’s connected world, we live with a constantly changing surface area of technology and an equally broad and growing set of motivated attackers, making this type of security vulnerability and risk to consumer data, inevitable,” said Samir Kapuria, executive vice president and general manager, Consumer Digital Safety, Symantec.
Symantec Corp. (SYMC), the world’s leading cyber security company, today announced new enhancements to its Data Loss Prevention (DLP) technology to protect information in Office 365. With Symantec DLP, data is protected whether at rest or in transit, on-premises or in the cloud, and everywhere it flows through a single management console. Monitoring and protecting data in the cloud generation is a complex task, and GDPR and other similar privacy regulations have further raised the stakes on data security, privacy and compliance.
The Trump administration imposed a tariff of 10 percent on over $200 billion, which could increase to 25 percent if the two countries are unable to settle, according to L. Thomas Block, Washington policy strategist at Fundstrat Global Advisors. The stock ended the day 3.78% higher at $21.69.
Moody's Investors Service said on September 24, 2018, Symantec Corporation (Baa3 Rating on Review for Downgrade) announced that its Audit Committee has concluded its internal investigation. Among the findings noted by the Audit Committee were: (i) weak and informal processes with respect to some aspects of the review, approval and tracking of transition and transformation expenses, (ii) minor revisions to previously announced financial results, and (iii) certain behaviors inconsistent with Symantec's code of conduct and related policies. The Audit Committee's recommendation to appoint a Chief Accounting Officer and a separate Chief Compliance Officer that will report to the Audit Committee were adopted by the Board.
Stocks that moved substantially or traded heavily Monday: Comcast Corp., down $2.27 to $35.63 Comcast outbid Twenty-First Century Fox and will pay about $39 billion for majority control of British satellite ...
Investing.com - Stocks in focus in pre-market trade Monday:· Comcast (NASDAQ:CMCSA) stock slipped 4.62% as of 8:22 AM ET (12:22 GMT) after the company outbid Fox on Saturday for a majority stake in European broadcaster Sky.· Barrick Gold Corporation (NYSE:ABX) stock surged by 2.87% after the company bought Randgold Resources (LON:RRS) for $18 billion.· Tesla (NASDAQ:TSLA) stock slipped up 1.3% after the luxury carmaker announced it was launching a door-to-door service for customers in Los Angeles in an attempt to speed up car sales.· Pandora (NYSE:P) stock jumped 8. ...
Shares of Symantec Corp. are up 4.8% in premarket trading Monday after the company said that the audit committee completed its probe and didn't expect to restate financial results. Importantly, the company does not expect to take any employment actions with respect to any Section 16 officer as a result of the investigation," Susquehanna analyst Anne Meisner wrote. "Net-net, we view this as a very positive outcome since we previously believed that some modification of previously discussed non-GAAP numbers and/or senior management dismissals were not out of the question." She said that the audit had created a major overhang for the stock since Symantec announced it back in May. Meisner rates the stock at positive with a $23 price target. Symantec shares are down 37% over the past 12 months, while the S&P 500 has gained 17%.