Gen Digital (GEN) Gets a Buy from B.Riley Financial

B.Riley Financial analyst Hal Goetsch maintained a Buy rating on Gen Digital today and set a price target of $46.00. The company’s shares closed yesterday at $29.91.

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According to TipRanks, Goetsch is a 5-star analyst with an average return of 42.5% and a 57.94% success rate. Goetsch covers the Technology sector, focusing on stocks such as Gen Digital, Pagaya Technologies Ltd, and Dave.

Gen Digital has an analyst consensus of Moderate Buy, with a price target consensus of $35.88, implying a 19.96% upside from current levels. In a report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $33.00 price target.

Based on Gen Digital’s latest earnings release for the quarter ending July 4, the company reported a quarterly revenue of $1.26 billion and a net profit of $135 million. In comparison, last year the company earned a revenue of $965 million and had a net profit of $181 million

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GEN in relation to earlier this year. Last month, John Chrystal, a Director at GEN bought 10,000.00 shares for a total of $321,000.00.