Barclays Reiterates Overweight Rating on Shares of NortonLifeLock (NLOK)

On Monday morning, analysts at Barclays reiterated their Overweight rating and $26 price target on shares of NortonLifeLock (NLOK).

The analysts believe NortonLifeLock will do well when it reports fiscal Q2 results for three reason: web traffic to buy.norton.com continues grow thanks to more promotional activity, this is the last quarter with stranded costs, and even though the stock has lagged after the recent sales of convertible securities, the analyst believe this is a good entry point more than a negative signal.

Web traffic means your website is getting the attention it needs. Over the past few quarters, web traffic has increased by approximately 11%. Although some analysts were worried last quarter about how much more NLOK was available to grow with such high numbers, the analysts feel confident in their 50k net add estimate for 2Q. In addition, NLOK has also been giving many promotions that help the website

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