Software titan Symantec is forecasting higher profits and sales in its future.It has a steady chart and steadily improving revenues,points out Joel Fishbein,a senior analyst and managing director at Lazard Capital Markets.
The growth of Symantec's deferred revenues has been impressive.Quarter after quarter,more are signing up for its services.That suggests more success in coming quarters.
Mr.Fishbein has a buy rating on Symantec.The company has done a phenomenal job of focusing on the right areas.It has the most comprehensive portfolio of security technologies.
As a big enterprise services firm,one weakness it has is in the consumer market.Symantec will be focusing on the mobile market to address that.It's really hard to develop security on all of the platforms,so the company buys acquisitions that are growing faster than Symantec itself,Mr.Fishbein observed.
Symantec was founded by Gary Hendrix in 1982.A multinational corporation based in Mountain View,California,the company's Norton antivirus and data management products generate much of its revenue.
FBR Capital Markets,a prominent investment bank and asset manager,has upgraded Symantec's rating to outperform from market perform.
Symantec(SYMC)
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