Tap into growing cybersecurity demand

Article Excerpt

The number of cyberattacks on businesses and individuals continue to increase as more functions move to cloud-computing (Internet based) platforms. That trend is good news for these two firms that help prevent data breaches. However, we feel Gen Digital is the better pick for your new buying. GEN DIGITAL INC. $17 is a buy. The company (Nasdaq symbol GEN; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 639.1 million; Market cap: $10.9 billion; Price-to-sales ratio: 3.2; Dividend yield: 2.9%; TSINetwork Rating: Average; www.gendigital.com) changed its name from NortonLifeLock Inc. (old symbol NLOK) in September 2022 following its acquisition of European cybersecurity firm Avast plc for $8.1 billion. Avast primarily makes free and premium security software for consumers such as desktop security, server and mobile-device protection. Gen is now the parent company for several security-related brands including Norton, LifeLock, and Avast, in addition to Avira, AVG, and CCleaner, which were obtained in previous acquisitions. Growth by acquisition adds risk, especially with a purchase as big as Avast. However,…