"It's
a jaw-dropping move, especially because Bennett was key to the
company's turnaround. I view this as a major step back ...," FBR Capital
Markets analyst Daniel Ives said.
Forrester
Research analyst Rick Holland said Symantec had been losing market
share to nimbler network security software makers such as FireEye Inc,
Palo Alto Networks Inc and Checkpoint Systems Inc.
Symantec
said it was committed to its target of more than 5 percent organic
growth and higher than 30 percent adjusted operating margin by fiscal
2017.
However, BMO Capital
analyst Joel Fishbein said it would be difficult for Symantec to achieve
5 percent revenue growth without mergers and acquisitions or
divestiture due to a continuing fall in its main PC security and storage
businesses.
Part of the problem is that Norton Anti-Virus is a primarily a consumer PC based program and that platform is slowly dying. You don't hear much about tablets or smart phones being hacked as much as PCs are so there really isn't a need for their main product.
Most corporations would use a different kind of anti-virus product or just go to FireEye for an end-to-end product. I think Symantec really needs to buy out a new era network security firm like FireEye in order for them to stay relevant.
Also with a look at their site it seems that there are like a 100 different products jumbled together in a mess. Let's say I'm a small business looking to beef up my security after hearing about Target getting hacked. I have no idea where to start or what product I should be looking for. Do I need Risk Automation Suite or NetBackup Appliance 5000 series or what. They seriously need to break these into different groups to make it easier to look at.
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