IT security provider Symantec Corporation (SYMC) recently rolled out an enhanced personalized security service product named Norton Security, which is expected to protect consumers across multiple devices. This latest service provides total security for PCs, Macs, Apple (AAPL) iOS and Android. Priced at $79.99, it is being offered as-a-service to end users that can access it from retail stores, Amazon.com (AMZN), Staples (SPLS), as well as Norton.com.
The service provides secured photo and video sharing features. It also enables secure transactions so that users can easily shop through smartphones and tablets without having to fear loss of confidential financial details. We believe these innovative products and solutions will help Symantec to win customers, thereby increasing business volume.
Cyber security is growing into a major concern for organizations of all sizes. The growing security threats and hacking attacks over the past year or so have revealed the increasing sophistication of the hackers and innovative hacking techniques. In order to cater to the growing demand for cyber security solutions, the company unveiled the new Norton Security service, which will strengthen its attack prevention solutions. Symantec’s expanded cybersecurity suite is likely to meet growing business needs.
As per the data from the company’s Internet Security and Threat Report, attacks on personal information and data grew 91% last year. Moreover, the report revealed that more than 550 million accounts were hacked in 2013. Norton Security helps customers to assess the level of vulnerabilities, detect threats and mitigate intellectual property theft.
Furthermore, Symantec provides a broad range of content security and information backup solutions to individuals and enterprises. Moreover, the company’s mobile and cloud security products are gradually gaining market acceptance. We believe that investing in growth areas such as Enterprise backup, Storage Management and Security businesses will drive the company’s long-term prospects.
However, smaller companies like Kaspersky are consistently launching comparable products. These along with competition from Intel (INTC) and Microsoft (MSFT) remain headwinds. The uncertainty over PC sales adds to its woes.
Currently, Symantec carries a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment