Nomura Initiates Coverage on FireEye (FEYE)
Investment analysts at Nomura assumed coverage on shares of FireEye (NASDAQ:FEYE) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $51.00 price target on the stock. Nomura’s target price indicates a potential upside of 22.74% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of FireEye with a Buy rating and $51 target price, with a positive view of the company’s positioning within the security software space (specifically focused on Advanced Persistent Threats, or APTs). FireEye is a fast-growth security software vendor with a unique solution to identify both known and unknown threats to enterprises. Given its best-in-class performance and positive customer reviews, we believe that FireEye is poised to take wallet share in the security market. FireEye has exhibited an attractive growth profile over the past three years, increasing revenue at a 270% CAGR from $1.6mn in 2009 to $83mn in 2012.”
FireEye (NASDAQ:FEYE) traded down 1.85% during mid-day trading on Tuesday, hitting $40.78. The stock had a trading volume of 392,092 shares. FireEye has a 52-week low of $35.25 and a 52-week high of $44.89. The stock’s 50-day moving average is $40.24 and its 200-day moving average is $40.24. The company’s market cap is $4.790 billion.
A number of other firms have also recently commented on FEYE. Analysts at Morgan Stanley initiated coverage on shares of FireEye in a research note to investors on Tuesday. They set an “equal weight” rating on the stock. Separately, analysts at Barclays initiated coverage on shares of FireEye in a research note to investors on Tuesday. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, analysts at UBS AG initiated coverage on shares of FireEye in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $47.93.
FireEye, Inc invented a purpose-built, virtual machine-based security platform that provides real-time protection to enterprises and governments worldwide against the next generation of cyber attacks.
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