Argus Research Cuts Price Target on Gen Digital Inc. (GEN) Citing Impact From Tech Selloff

Gen Digital Inc. (NASDAQ:GEN) is among the 10 Best Magic Formula Stocks for 2026. This week, Argus Research cut its price target on the stock to $32 from $35, citing the impact from the tech selloff this year.

However, the firm reiterated a Buy rating on the stock. According to a report on TipRanks, Argus analyst Joseph Bonner told investors in a research note that the company’s fundamentals remain reasonable, while adding that the concerns regarding Gen-AI agents posing a threat to software in the cybersecurity space were exaggerated.

As of the close on February 23, Gen Digital Inc. (NASDAQ:GEN) sports a Moderate Buy rating with an average share price upside potential of 54.3%.

In other news, the company on February 17 announced that it was partnering with Vercel to add independent safety checks to skills.sh, the latter’s directory for skill packages that is widely used by developers to publish and install modular capabilities to enhance the performance of AI agents.

Gen Digital Inc. (NASDAQ:GEN) provides cybersecurity services for individuals and businesses through its consumer brands, including Avast, LifeLock, Norton, and others.

While we acknowledge the potential of GEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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