Why Did Robert W. Baird Upgrade NortonLifeLock’s Stock?

NortonLifeLock (NLOK) received a Buy rating and a $25.00 price target from Robert W. Baird analyst Jonathan Ruykhaver today. The company’s shares closed last Friday at $21.05.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 17.2% and a 62.3% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies, CrowdStrike Holdings, and Palo Alto Networks.

NortonLifeLock has an analyst consensus of Moderate Buy, with a price target consensus of $22.78.

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Based on NortonLifeLock’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $614 million and net profit of $231 million. In comparison, last year the company earned revenue of $617 million and had a net profit of $34 million.

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NortonLifeLock, Inc. engages in the provision of security, storage, and systems management solutions. It operates through Enterprise Security and Consumer Digital Safety segments. The Enterprise Security segment focuses on the provision of solutions to protect organizations so they can securely conduct business while leveraging new platforms and data. The Consumer Digital Safety segment provides solutions to protect information, devices, networks and the identities of consumers. The company was founded by Gary Hendrix in April 1982 and is headquartered in Mountain View, CA.

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