Symantec’s SYMC cyber safety brand — Norton LifeLock — recently announced the availability of Norton 360 Deluxe in the Microsoft MSFT Store.
Reportedly, customers will now be able to download the software at a monthly subscription of $9.99, for both Windows 10 and Windows 10S, making it the first paid comprehensive cyber security product to be launched in Microsoft Store.
The Norton 360 Deluxe offers several features that help customers protect their personal information, including device security, online threat protection, smart firewall, PC cloud backup, secure VPN, password manager, PC SafeCam, parental control, virus protection promise and dark web monitoring.
Symantec’s partnership with Microsoft has been documented for about 25 years during which, Norton LifeLock developed more than 200 security solutions to secure and manage numerous desktops, laptops and servers running Windows and other Microsoft applications.
We note that Symantec acquired LifeLock in fiscal 2017, at a time when Norton’s sales were falling with decline in the PC market. Even though the acquisition did not have any material impact in fiscal 2017 and fiscal 2018, it contributed to the 3% year-over-year growth in the Consumer Cyber Safety segment during fiscal 2019. During the fiscal year, the company drove significant market adoption and high customer retention of the Consumer Cyber Safety solutions on the back of the Norton LifeLock product portfolio.
Symantec Corporation Revenue (TTM)
Symantec Corporation revenue-ttm | Symantec Corporation Quote
Challenges to Norton
Despite the efforts, competition remains strong for Norton Security. The brand faces significant competition from Avast Software, McAfee, Kaspersky and Trend Micro TMICY.
Moreover, Microsoft’s own suite of desktop security solutions, Microsoft Managed Desktop, is also a concern for Norton’s share in the desktop security market.
Further, the persistent sluggishness in the PC Market is a major headwind to Norton’s sales.
However, the continued efforts to upgrade and improve the brand is expected to keep Symantec ahead in the cybersecurity market.
Zacks Rank & A Key Pick
Symantec currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the broader Computer and Technology sector is eGain Corporation EGAN, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for eGain is projected to be 30%.
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