Wedbush Research Analysts Increase Earnings Estimates for FireEye, Inc. (FEYE)
FireEye, Inc. (NASDAQ:FEYE) – Stock analysts at Wedbush increased their FY2017 earnings per share (EPS) estimates for shares of FireEye in a research report issued to clients and investors on Wednesday. Wedbush analyst S. Koenig now forecasts that the information security company will earn ($1.12) per share for the year, up from their previous forecast of ($1.32). Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for FireEye’s Q4 2017 earnings at ($0.22) EPS, Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.19) EPS and FY2018 earnings at ($0.95) EPS.
Other equities analysts also recently issued reports about the company. Vetr upgraded FireEye from a “buy” rating to a “strong-buy” rating and set a $17.31 target price on the stock in a research report on Tuesday, July 4th. William Blair raised FireEye from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $13.95 to $12.21 in a report on Wednesday, May 3rd. Stephens reissued an “equal weight” rating and set a $14.00 price target (up from $12.00) on shares of FireEye in a report on Wednesday, May 3rd. Stifel Nicolaus reissued a “buy” rating on shares of FireEye in a report on Wednesday, July 19th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $23.00 price target on shares of FireEye in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.82.
FireEye (FEYE) opened at 14.36 on Monday. The firm has a 50-day moving average price of $15.39 and a 200-day moving average price of $13.45. The company’s market capitalization is $2.54 billion. FireEye has a 52 week low of $10.35 and a 52 week high of $17.70.
FireEye (NASDAQ:FEYE) last announced its earnings results on Tuesday, August 1st. The information security company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. The business had revenue of $185.50 million for the quarter, compared to analyst estimates of $176.39 million. FireEye had a negative return on equity of 26.21% and a negative net margin of 46.37%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.33) EPS.
In other FireEye news, EVP Alexa King sold 69,884 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $14.46, for a total transaction of $1,010,522.64. Following the completion of the transaction, the executive vice president now owns 428,733 shares in the company, valued at $6,199,479.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of FireEye during the fourth quarter valued at about $16,275,000. Teachers Advisors LLC raised its position in shares of FireEye by 20.1% in the fourth quarter. Teachers Advisors LLC now owns 191,932 shares of the information security company’s stock valued at $2,284,000 after buying an additional 32,147 shares during the period. Macquarie Group Ltd. acquired a new position in shares of FireEye during the fourth quarter valued at about $231,000. Bank of Montreal Can raised its position in shares of FireEye by 37.4% in the first quarter. Bank of Montreal Can now owns 7,887 shares of the information security company’s stock valued at $100,000 after buying an additional 2,147 shares during the period. Finally, Columbus Circle Investors acquired a new position in shares of FireEye during the first quarter valued at about $1,401,000. Institutional investors and hedge funds own 67.16% of the company’s stock.
FireEye, Inc provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series).
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