The cyber security landscape is facing new pressure from a few key areas. According to a recent report by Symantec (NASDAQ:SYMC), targeted attacks on enterprises are becoming more common. The report also highlights the growing use of social networks as a means of attack distribution and an expected increase of attacks on mobile platforms. [1] While these particular threats remain only a subset of cyber security concerns, their potential to increase dramatically is worth highlighting. Since social networks and mobile devices are two prominent areas of high user growth, their related security threats could see corresponding expansion. The expansion of the addressable market for anti-virus software should bolster Symantec stock.
Symantec is the leader in the security software market and competes with McAfee (NYSE:MFE) (acquired by Intel (NYSE:INTC)), Computer Associates, AVG, TrendMicro and Kaspersky Labs.
Our price estimate for Symantec, at $21.24 is roughly 15% ahead of market price.
See our full analysis and $21.24 price estimate for Symantec
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