LifeLock Inc. (NYSE: LOCK) should be the right company, at the right place and in the right time. The fears of identity theft and damage to credit from fraudulent activities seem higher than ever. Yet recent issues have kept the stock from exploding higher. Now, after the analysts day, it seems that some of the fears may be subsiding after at least two analysts have keyed in on the company.

A recent lawsuit is on the heels of the company disclosing a Federal Trade Commission (FTC) investigation into its practices. The Rosen Law Firm filed a class action suit accusing the company and certain executive officers of the company of allegedly misrepresenting or failing to disclose that LifeLock’s marketing and advertising practices were in direct violation of applicable government rules, regulations and a prior settlement order the company entered into in March 2010 with the FTC. This suit against the company claims that when the market learned of this adverse information, the price of LifeLock’s securities dropped, damaging investors.

What was interesting was that the drop took place at a time when so many data security stocks were soaring higher. Shares peaked at almost $23 in February, but then fell to $20 at first, and then down to $18.40 before recovering recently. But that was then; now the stock is up almost 6% at $20.30 on above-average volume after its analysts day.

Two analyst calls have been made so far. Deutsche Bank raised its rating to Buy. Sterne Agee maintained its Buy, with a $26 price target.

LifeLock’s full presentation was put into an SEC filing, targeting a full opportunity of what are now 78 million potential consumers, versus a current market share of 3 million customers. LifeLock said that more than 30 million of those concerned about security are doing something about it, but more than 40 million are doing nothing. LifeLock put its member retention rate at 87.8%.

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