FireEye Inc. (FEYE) Stock Rating Lowered by Zacks Investment Research
FireEye Inc. (NASDAQ:FEYE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “FireEye is a specialized provider of a security platform against cyber-attacks to enterprises and governments. Off late, estimates have been stable for the company. We are optimistic about FireEye given a healthy security market, strong product line-up, deal wins and investment plans, which should boost results in the long run. Furthermore, FireEye’s strategy of growing through acquisitions is encouraging. The latest of such transactions were the iSIGHT Partners and Invotas buyouts. The deals has beefed up FireEye’s cyber security suite and enhanced its competitive dynamics. Nonetheless, near-term prospects for the company are not promising as changing customer spending behavior has recently hit several other players in this space. Intensifying competition and uncertain macroeconomic environment add to its woes.”
Several other equities research analysts have also recently weighed in on FEYE. Wells Fargo & Co. reiterated a “market perform” rating on shares of FireEye in a research report on Monday, September 26th. Wunderlich started coverage on FireEye in a report on Tuesday, September 13th. They set a “hold” rating and a $16.00 price objective for the company. Imperial Capital reissued an “outperform” rating and set a $25.00 price objective on shares of FireEye in a report on Sunday, July 24th. Nomura reissued a “buy” rating and set a $22.50 price objective on shares of FireEye in a report on Thursday, September 8th. Finally, Deutsche Bank AG started coverage on FireEye in a report on Monday, September 26th. They set a “hold” rating and a $15.00 price objective for the company. Twenty equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.84.
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Shares of FireEye (NASDAQ:FEYE) traded down 1.01% on Wednesday, reaching $13.69. 3,483,294 shares of the company were exchanged. The stock’s 50-day moving average is $14.60 and its 200 day moving average is $15.82. FireEye has a 12-month low of $11.35 and a 12-month high of $31.81. The firm’s market capitalization is $2.32 billion.
FireEye (NASDAQ:FEYE) last announced its quarterly earnings data on Thursday, August 4th. The information security company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.06. FireEye had a negative return on equity of 46.11% and a negative net margin of 81.76%. The business had revenue of $175 million for the quarter, compared to analysts’ expectations of $181.67 million. During the same period in the previous year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that FireEye will post ($1.30) EPS for the current year.
In related news, President Travis M. Reese sold 2,466 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $14.19, for a total transaction of $34,992.54. Following the sale, the president now directly owns 388,841 shares of the company’s stock, valued at $5,517,653.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John T. Mcgee sold 14,988 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.20, for a total value of $212,829.60. Following the sale, the executive vice president now directly owns 155,905 shares in the company, valued at $2,213,851. The disclosure for this sale can be found here. 9.60% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in FireEye by 6.1% in the second quarter. Vanguard Group Inc. now owns 10,553,940 shares of the information security company’s stock valued at $173,824,000 after buying an additional 608,009 shares during the period. Calamos Advisors LLC boosted its stake in FireEye by 41.9% in the second quarter. Calamos Advisors LLC now owns 1,887,759 shares of the information security company’s stock valued at $31,091,000 after buying an additional 557,213 shares during the period. Falcon Point Capital LLC acquired a new stake in FireEye during the second quarter valued at approximately $7,733,000. Honeywell International Inc. boosted its stake in FireEye by 53.2% in the second quarter. Honeywell International Inc. now owns 1,074,000 shares of the information security company’s stock valued at $17,689,000 after buying an additional 373,100 shares during the period. Finally, Pictet Asset Management Ltd. acquired a new stake in FireEye during the second quarter valued at approximately $5,628,000. 52.39% of the stock is currently owned by institutional investors.
FireEye, Inc provides cybersecurity solution for detecting, preventing and resolving cyber-attacks. The Company’s cybersecurity solutions combine its purpose-built virtual-machine technology, threat intelligence and security in a suite of products and services. The Company’s cybersecurity platform includes a family of software-based appliances, endpoint agents, cloud-based subscription services, support and maintenance and other services.
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