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UPDATE: Goldman Sachs Initiates LifeLock at Buy on Growth Expectations

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Goldman Sachs initiated coverage on LifeLock (NYSE: LOCK) with a Buy rating and a $12 price target.

Goldman Sachs commented, "We initiate coverage of LifeLock with a Buy rating, anticipating 71% appreciation in 12 months as investors gain confidence in its growth. We forecast 25%-plus organic growth this year as more consumers subscribe to identity protection services. LifeLock's 2.3mn member base is a small fraction of the opportunity (less than 5% of the 45mn credit monitoring market) and we expect the market to shift to broader identity protection. Demand should rise on a worsening threat environment that has evolved beyond credit. Consumers are increasingly aware that their exposure to identity theft is growing with the explosion of personal information online."

LifeLock closed at $7.00 on Friday.

Latest Ratings for LOCK

Nov 2016Canaccord GenuityDowngradesBuyHold
Nov 2016Deutsche BankDowngradesBuyHold
Nov 2016Deutsche BankDowngradesBuyHold

View More Analyst Ratings for LOCK
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Posted-In: Goldman SachsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


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