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FireEye (NASDAQ:FEYE) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $75.00 price objective on the stock, up from their previous price objective of $64.00. JPMorgan Chase & Co.’s price objective indicates a potential upside of 8.01% from the stock’s previous close.

The analysts wrote, “One that has driven FEYE up 96% since the close on December 12 as compared to only 5% for the NASDAQ composite index,” the report noted. “We are raising our price target to $75, but that only leaves ~2% from current levels and thus we are downgrading to Neutral from Overweight. We still consider FireEye to be the most disruptive name in security and it should continue to show significant upside to current estimates, but at these price levels we believe the valuation is factoring in the majority of that opportunity.”

Shares of FireEye (NASDAQ:FEYE) traded down 5.61% during mid-day trading on Tuesday, hitting $69.44. The stock had a trading volume of 2,502,833 shares. FireEye has a 52 week low of $33.30 and a 52 week high of $75.24. The stock has a 50-day moving average of $46.34 and a 200-day moving average of $42.06. The company’s market cap is $8.390 billion.

FireEye (NASDAQ:FEYE) last released its earnings data on Thursday, November 7th. The company reported ($1.21) earnings per share for the quarter, beating the analysts’ consensus estimate of ($1.28) by $0.07. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $39.80 million. FireEye’s revenue was up 95.0% compared to the same quarter last year. On average, analysts predict that FireEye will post $-3.21 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at William Blair initiated coverage on shares of FireEye in a research note to investors on Wednesday, January 15th. They set an “outperform” rating and a $20.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of FireEye from $56.00 to $65.00 in a research note to investors on Friday, January 10th. They now have an “overweight” rating on the stock. Finally, analysts at Bank of America Corp. set a $60.00 price target on shares of FireEye in a research note to investors on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. FireEye has an average rating of “Hold” and an average target price of $49.50.

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.

The Fly On The Wall

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