AT&T Stock Is Moving Lower Monday: What's Going On?

AT&T Inc T shares are trading lower Monday after the company said personal data from 73 million current and former customers account holders was leaked.

What Happened: AT&T said on Saturday that it determined AT&T data-specific fields were contained in a data set released on the dark web about two weeks ago.

A preliminary analysis showed that the data set appears to be from 2019 or earlier and is impacting approximately 7.6 million current AT&T account holders and approximately 65.4 million former account holders. AT&T said it is not yet known whether the data — which contains personal information such as social security numbers — originated from AT&T or one of its vendors.

“The company is communicating proactively with those impacted and will be offering credit monitoring at our expense where applicable,” the company said in a statement.

AT&T noted that the incident has not had a material impact on its operations. The telecom company said the source of the data is still being assessed, but it does not have evidence of unauthorized access to its systems.

Check This Out: AT&T Finally Admits To Massive Data Breach Which Reportedly Affected 65.4M Customers: ‘… Passcodes Have Been Compromised’

T Stock Prediction 2024

When buying a stock for a longer time horizon, it is important for investors to assess where they think the stock is headed in the future. When mapping a stock's future trajectory, investors should consider factors including the future earnings expectations and expected performance against a benchmark.

AT&T 's revenue has grown at an average rate of -8.9% annually over the past five years. The average one-year price target from analysts is $22.29, representing an expected 29.44% upside in 2025.

While past performance is not a guarantee of future results, investors should also look at a stock's historical performance when compared to both a benchmark index and the company's peers. Shares of AT&T have seen an annualized return of -1.42%, underperforming the S&P 500 index by 10.76%. This compares to -6.92% growth in the overall Communication Services sector. AT&T has a beta of 0.62.

T Price Action: AT&T shares were down 2.33% at $17.19 at the time of publication, according to Benzinga Pro.

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