McAfee (MCFE) Reemerges As A Solid Cybersecurity Play

For the current quarter, earnings are expected to come in at $0.18 per share on sales of $434 million. For 2021 overall, earnings are expected to reach $0.80 per share on revenue of $1.79 billion.

There are currently seven analysts that cover McAfee, with five buy ratings and two hold recommendations. Two analysts recently upgraded the price target, one to $30 and the other to $32.

The chart shows shares are slightly overbought with RSI (relative strength index) above the 70 level. Near-term resistance is at $29–$29.25, with the 52-week peak at $29.06. A close above the latter would signal a push towards the $30 level. Current support is at $28.25–$28, with a close below the latter leading to additional selling pressure. The previous breakout level was in the $26.25 area from mid-April.

Patient investors might want to wait for a pullback with aggressive trades possibly selling deep-in-the-money calls at current levels. The company pays an annual dividend of $0.46 per share for a yield of 1.6%.

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