Wells Fargo analyst Andrew Nowinski has reiterated their bullish stance on GEN stock, giving a Buy rating on July 15.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Nowinski has given his Buy rating due to a combination of factors that suggest a positive outlook for Gen Digital. The company’s valuation appears attractive, with shares trading at a relatively low price-to-earnings ratio, which presents a compelling investment opportunity. Additionally, the recent acquisition of MoneyLion is expected to enhance Gen Digital’s strategic position, despite the management’s decision not to break out revenue figures. The focus on cross-selling and transitioning MoneyLion to a subscription model could potentially drive future growth and improve operating margins.
Moreover, the Cyber Safety segment is showing signs of momentum, with revenue growth expected to continue at a moderate pace. The Direct Customer segment, a significant contributor to Cyber Safety revenue, is benefiting from strong demand for antivirus and privacy solutions. Although partner-driven revenue growth may decelerate, the overall business strategy and capital allocation plans, including potential resumption of share repurchases, support a favorable long-term outlook for the company.
In another report released on July 15, TR | OpenAI – 4o also upgraded the stock to a Buy with a $34.00 price target.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GEN in relation to earlier this year.