Norton Everywhere May Become Symantec's Mobile Moneymaker
We currently maintain a near $21.48 price estimate for Symantec stock, which is about 15% above its market price.
Can Symantec achieve faster top-line growth?
Symantec's revenues from its Norton line of products showed 6% growth in the last quarter vs. the same period last year. However, given the market's growth, the company might not gain market share in the near term. Indeed, we expect its market share to steadily decline from around 46% in 2010 to 42% by the end of Trefis forecast period.
However, Symantec Norton Everywhere initiative, in which it is offering its mobile security service to a number of customers, has shown promise.
Here is what the company states:
Recent partner wins include carriers such as T-Mobile Austria and KDDI, retailers such as Dixons and OEMs such as Samsung through its app store. All of these partners have chosen to include Norton Mobile Security, along with their Android phone and tablet offerings.
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Capturing the mobile security opportunity will be important for Symantec, as the company acknowledges that by 2013, handheld devices will be the most popular way to access the Web. The success of Norton Everywhere could decide whether Symantec gains market share in the long-term or not.
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