LifeLock is a famous American anti-theft company owned by Symantec. In February 2017, Symantec acquired LifeLock for $ 2.3 billion, which develops solutions to protect against theft of personal data. According to forecasts of Wall Street analysts, including this acquisition, Symantec's revenue could grow 16.3% to $ 1.27 billion, with earnings expected to increase from $ 0.32 to $ 0.44 per share.
The company - provider of cybersecurity solutions Symantec Corporation (SYMC, NASDAQ) on January 31, plans to submit a quarterly report. Investors are not sure that the company able to achieve the previously established forecast indicators and reduce the forecast. However, Symantec has a severe driver to growth in the medium and long-term - the newly acquired company for the protection of personal data.
Symantec, taking into account the current trends in the protection of personal data, has decided to increase marketing costs in this area of business. This promising area of cyber defense already in the medium term can become a dangerous driver of the company's growth. According to Symantec estimates, in 2017, hackers stole about $ 172 billion from 978 million users in 20 countries. In the US alone, 143 million people kidnapped by cybercriminals in 2017, who stole $ 19.4 billion. Specialists in the field of digital security predict identity theft's growth due to the widespread use of the Internet of things. Therefore, the demand for solutions from LifeLock grows, which leads to the Symantec growth. Not so long ago, Symantec launched a campaign to resell Norton antivirus and spyware removal software for LifeLock clients.
However, in the short term, Symantec may face some decline in profits due to increased marketing costs and the sale of businesses to ensure the security of websites. It is with this that negative evaluations of some analysts on Wall Street are connected.
At the auction on January 29, SYMC shares fell 2.31% to $ 27.07. Market capitalization reached $ 16.65 billion.
The service combines a variety of technologies and technologies to ensure that you are safe. Mobile applications and real-time alerts communicate with what is happening. LifeLock is not another company using a standard data channel to access this information.
If you are fraudulent, the IDL LifeLock team is at your fingertips to help correct problems and restore your identity, can be a costly process, especially with legal fees, but LifeLock also helps here with damages and costs of up to $ 1 million due to identity fraud.
LifeLock is available as three products.
LifeLock Standard provides you with a social security number and credit alerts and up to $ 25,000 to cover losses associated with identity fraud.
The cost of LifeLock Advantage of $ 19.99 per month increases the coverage of losses from ID theft to $ 100,000 and adds warnings about the activities of the bank and credit cards and monitoring of crimes recorded in your name.
Expenses of $ 29.99 per month on the top of LifeLock Ultimate Plus allow you to receive a refund of $ 1 million for stolen funds, notifications of 401 (k) and investment activities and add three credit reports on credit transactions and score scores.
You can additionally add Norton Security Online to each of these plans, possibly by blocking malicious software before it can steal any of your personal information.
Norton Security Online is not as powerful as the full package of Norton Security, but it gives you durable protection against online threats (Symantec takes the sixth place in the AV-Comparatives Real-World Protection tests for July-November 2017.
LifeLock does not offer a free trial, but it's still more generous than you might expect.
The Advantage and Ultimate Plus plans now include notifications of data violations and credit card verification, verification, and a savings account.
LifeLock Scandal? In 2007, The Phoenix New Times published a story about the origins of Lifelock and its founder's shady past (Robert Maynard, Jr.). Maynard allegedly uses a fake story about identity theft to promote LifeLock, but he suspected he committed identity theft and used his credit repair company (which was closed by the Fed) for unauthorized debiting from customers' accounts.
Compared with loan monitoring services, LifeLock is the best offering prevention services, not just theft warning after identification. For some people, paying $ 10 a month is a waste, but for people who not forget to update fraud alerts or order their annual credit reports, $ 10 is just an ounce of prevention.
Lifelock's fee may not be worth it, especially if you are offered free credit monitoring through another service. For example, a company that has suffered a data violation. You can also get free credit monitoring for your Trans-Union credit report through CreditKarma.com and your credit report to Experian via CreditSesame.com, twice a year, you can get a free credit report from Equifax through Quizzle.com.