LifeLock Inc. (LOCK) Downgraded by Zacks Investment Research
LifeLock Inc. (NYSE:LOCK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Life Lock, Inc. offers identity theft protection services primarily in the United States. It operates in two segments: consumer segment and an enterprise segment. The company protects consumer subscribers through monitoring identity-related events, such as new account openings and credit-related applications; and enterprise customers through delivering on-demand identity risk and authentication information about consumers. Its customers include financial institutions, telecommunication and cable services providers, government agencies, technology companies, large retailers, automobile and mortgage lenders, and e-commerce providers. Life Lock, Inc. is headquartered in Tempe, Arizona. “
LOCK has been the topic of several other research reports. Wunderlich upped their price target on LifeLock from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Bank of America Corp. set a $18.00 price target on LifeLock and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Needham & Company LLC upped their price target on LifeLock from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. began coverage on LifeLock in a research report on Monday, August 15th. They set a “neutral” rating and a $18.00 price objective for the company. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $18.09.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/lifelock-inc-lock-downgraded-by-zacks-investment-research.html
Shares of LifeLock (NYSE:LOCK) traded down 1.06% on Wednesday, hitting $16.82. The stock had a trading volume of 1,179,914 shares. LifeLock has a 52-week low of $9.05 and a 52-week high of $17.35. The firm’s market cap is $1.56 billion. The firm’s 50-day moving average price is $16.60 and its 200 day moving average price is $14.69.
LifeLock (NYSE:LOCK) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. LifeLock had a positive return on equity of 13.64% and a negative net margin of 9.91%. The company had revenue of $164.40 million for the quarter, compared to the consensus estimate of $163.25 million. During the same quarter in the prior year, the business earned $0.10 EPS. LifeLock’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts predict that LifeLock will post $0.77 EPS for the current year.
In other LifeLock news, Vice Chairman Richard Todd Davis sold 16,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $16.13, for a total transaction of $261,306.00. Following the completion of the sale, the insider now directly owns 343,850 shares of the company’s stock, valued at approximately $5,546,300.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris G. Power sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $16.18, for a total value of $80,900.00. Following the sale, the insider now directly owns 192,885 shares of the company’s stock, valued at $3,120,879.30. The disclosure for this sale can be found here. 13.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of LOCK. Credit Suisse AG increased its stake in LifeLock by 4,312.3% in the second quarter. Credit Suisse AG now owns 2,234,373 shares of the company’s stock valued at $35,325,000 after buying an additional 2,183,733 shares in the last quarter. Renaissance Technologies LLC increased its stake in LifeLock by 287.1% in the first quarter. Renaissance Technologies LLC now owns 1,237,500 shares of the company’s stock valued at $14,937,000 after buying an additional 917,800 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in LifeLock during the second quarter valued at approximately $7,633,000. Ameriprise Financial Inc. increased its stake in LifeLock by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 8,839,464 shares of the company’s stock valued at $139,752,000 after buying an additional 308,944 shares in the last quarter. Finally, Lebenthal Asset Management LLC bought a new stake in LifeLock during the second quarter valued at approximately $3,707,000. 98.22% of the stock is owned by hedge funds and other institutional investors.
LifeLock, Inc provides proactive identity theft protection services for consumers and consumer risk management services for enterprises. The Company monitors certain identity-related events, such as new account openings and credit-related applications. It operates in two segments: consumer segment and an enterprise segment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LifeLock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LifeLock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.