Avast Share Price Forecast July 2021 – Time to Buy AVST?
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Shares of cybersecurity firm Avast PLC (LSE: AVST) are in green today after the company experienced its largest surge in more than a year after the confirmation of advanced talk on a potential merger with NortonLifeLock. As the company increased its revenue by 1.97% in 2020, investors are wondering if it is the right time to go for AVST shares.
Avast Share Price – Technical Analysis
The financial statement of Avast PLC reveals a market cap of £5.199 billion with total assets worth £1.98 billion. Avast PLC’s revenue for 2020 was £696.30 million compared to £682.82 million in 2019. AVST shares closed on July 15 at £595.6 with an uptrend of 18.13%.
According to its technical information, moving averages such as Exponential Moving Average (10)(517.2), Simple Moving Average (10)(509.6), Volume Weighted Moving Average (20)(527.1), and Simple Moving Average (20)(502.1) are pointing towards a buy action. Oscillators for AVST such as Stochastic RSI Fast (3, 3, 14, 14)(59.1), Williams Percentage Range (14)(-0.6), and Bull Bear Power (134.2) are pointing towards a neutral action, while Ultimate Oscillator (7, 14, 28)(80.9) is pointing towards a buy action.
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Recent Developments
As mentioned earlier, the company’s shares jumped the most in over a year after the advanced merger tall with NortonLifeLock. The discussions were also confirmed by NortonLiceLock, although there has not been an agreement yet. Avast PLC has set a standard in making antivirus software already, and now the company is one step away to grow in advanced anti-hacking protection.
The reason Norton is keen on buying Avast PLC is probably the huge 435 million user base of the company. The company offers a “Freemium” distribution model that appeals to customers with a free, baseline product and turns them into paying users to use more advanced software. Avast is also striking deals with search engines, advertisers, and other software firms that want access to its customer base. Judging the current developments, Analysts at Berenberg believe that Avast PLC must not settle for less than £8.4 billion.
Should You Buy AVST Shares?
Investors need to consider the risk and reward factors before buying AVST shares. The shares of Avast PLC rose 14% and reached 575.20 pence at 10.33 am, London time; after they jumped 17%, which is the biggest intraday gain of the company since March 2020. This year, AVST has gained 7.1%, offering a huge market value to the company. Moreover, the technical information offers more insight. All moving averages are pointing towards buying, while some of the oscillators are pointing neutral and some are siding with buy actions. So, it is a good time for investors to buy AVST shares for larger gains in the future.
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