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UPDATE: Canaccord Genuity Initiates LifeLock to Buy; Growth at Discount Valuation

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Canaccord Genuity initiated coverage on LifeLock (NYSE: LOCK) with a Buy rating and an $11 price target.

Canaccord Genuity said, "LifeLock is the identity theft protection market's leading brand with nearly 2.3 million subscription members, $230M in trailing revenues, and mid-20% organic growth. The firm is attacking a large market – roughly 12M reported identity frauds per year – with a predictable and leverageable model. LifeLock has a budding opportunity in the enterprise market, adjacent areas of expansion in consumer, and seemingly attainable growth forecasts. As LOCK builds its track record of execution, we believe shares will see a gradual multiple expansion that drives the stock into the low double digits."

LifeLock closed at $7.00 on Friday.

Latest Ratings for LOCK

Aug 2016Goldman SachsInitiates Coverage onNeutral
Apr 2016WunderlichMaintainsBuy
Feb 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for LOCK
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Posted-In: Canaccord GenuityAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


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