According to a recent mobile threat study from Juniper Networks (NASDAQ:JNPR), the security threats on mobile devices are growing at a rapid rate. [1] Specifically, the malware attacks on Google’s (NASDAQ:GOOG) Android platform saw an increase of 400% over the last one year. The increase in mobile security threats are a wake up call for mobile phone operating system players like Nokia (NYSE:NOK), Apple (NASDAQ:AAPL) and Research in Motion (NASDAQ:RIMM) in addition to Google.
However, security players like Symantec (NASDAQ:SYMC) stand to benefit from this trend as it helps them increase the addressable market. 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 10% ahead of market price.
See our complete analysis for Symantec stock here
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