5 Most Undervalued Cybersecurity Stocks To Buy According To Hedge Funds

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In this article, we will take a look at the 5 most undervalued cybersecurity stocks to buy according to hedge funds. To see more such companies, go directly to 10 Most Undervalued Cybersecurity Stocks To Buy According To Hedge Funds.

5. Gen Digital Inc. (NASDAQ:GEN)

Number of Hedge Fund Holders: 32

Shares of Gen Digital Inc. (NASDAQ:GEN), previously NortonLifeLock, have lost about 14% year to date. Gen Digital Inc. (NASDAQ:GEN)’s PE ratio of 8.58 as of June 30 shows its valuation is currently attractive. Gen Digital Inc. (NASDAQ:GEN) is behind some of the most famous antivirus and data protection software solutions including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner.

In May,  Evercore ISI started covering GEN stock with an Outperform rating. Evercore ISI analyst Peter Levine said in his note that Gen Digital Inc. (NASDAQ:GEN) is not only an anti-virus company but “the leading consumer cybersecurity platform” with “best of breed” tools.

As of the end of the first quarter of 2023, 32 hedge funds tracked by Insider Monkey had stakes in Gen Digital Inc. (NASDAQ:GEN). The biggest stakeholder of Gen Digital Inc. (NASDAQ:GEN) during this period was Jeffrey Smith’s Starboard Value LP which owns a $325 million stake in the company.

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