Norton’s Everywhere Initiative Could be Symantec’s Mobile Money Maker
Symantec (NASDAQ:SYMC) is the global leader in the security software market and sells products like Norton antivirus and it also offers data loss prevention and data encryption products for enterprises. Symantec recently announced its fiscal year Q4 2011 earnings in which it highlighted that its Norton Everywhere initiative is gaining traction. This business is helping Symantec expand beyond PC security to mobile phones and tablets. Symantec competes with Microsoft (NASDAQ:MSFT), McAfee (NYSE:MFE) (acquired by Intel (NYSE:INTC)), Computer Associates, AVG, TrendMicro and Kaspersky Labs. [1]
We currently maintain a near $21.50 price estimate for Symantec stock, which is about 15% above market price.
Can Symantec achieve faster top-line growth?
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Symantec’s revenues from its Norton line of products showed 6% growth in FY Q4 2011 vs. the same time last year. However, given the market’s growth, it might not gain market share in the near term. We expect its market share to steadily decline from around 46% in 2010 to 42% by the end of Trefis forecast period.
However, Symantec has showed promise through its Norton Everywhere initiative, in which it is offering its mobile security service to a number of customers.
Here is what the company mentions: [1]
Recent partner wins include carriers such as T-Mobile Austria and KDDI, retailers such as Dixons and OEMs such as Samsung through its app store. All of these parters have chosen to include Norton Mobile Security, along with their Android phone and tablet offerings. [1]
Capturing the mobile security opportunity will be important for Symantec as the company itself acknowledges that by 2013 handheld devices will be the most popular way to access the web. [2] The success of Norton Everywhere initiative could decide whether Symantec gains market share in the long-term or not.
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