Symantec’s Stellar Q3 Fails To Pull Analysts From The Sidelines>
Benzinga – Shanthi Rexaline
Symantec’s Blue Coat acquisition and expanded product footprint is helping to kickstart enterprise growth in a big way, Ives said in a Friday note. The analyst attributed the enterprise performance to improved execution, facilitated by the integration of salesforce with pent up installed base demand and the threat environment forcing the installed base to sign contracts. After last year’s audit investigation and tough sales environment, Symantec is getting its mojo back, as evidenced by billings and sales guidance, Ives said. With a PE buyout being speculated, the analyst sees the potential price in the $26-$30 range. However, the solid third-quarter performance should put any M&A talk on hold. A return to organic growth by Symantec’s enterprise security business, better-than-expected operating margins and operating cash flow were the highlights of the quarter, Weiss said.
Link: https://www.benzinga.com/analyst-ratings/analyst-color/19/02/13083152/symantecs-stellar-q3-fails-to-pull-analysts-from-the-si