BTIG Research Reaffirms “Buy” Rating for FireEye, Inc. (NASDAQ:FEYE)
FireEye, Inc. (NASDAQ:FEYE)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research note issued on Tuesday. They currently have a $18.00 price target on the information security company’s stock, up from their prior price target of $17.00. BTIG Research’s price objective would suggest a potential upside of 27.41% from the company’s current price.
A number of other research analysts have also weighed in on FEYE. Zacks Investment Research lowered FireEye from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Evercore ISI reissued a “buy” rating and set a $16.00 price target (up previously from $14.00) on shares of FireEye in a research note on Wednesday, May 3rd. BMO Capital Markets increased their price target on FireEye from $11.00 to $15.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 3rd. William Blair raised FireEye from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $13.95 to $12.21 in a research note on Wednesday, May 3rd. Finally, Wedbush increased their price target on FireEye from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.97.
FireEye (NASDAQ FEYE) traded down 1.74% during midday trading on Tuesday, reaching $14.14. The company’s stock had a trading volume of 4,720,888 shares. The stock’s market capitalization is $2.50 billion. FireEye has a 52 week low of $10.35 and a 52 week high of $16.40. The firm’s 50-day moving average price is $15.34 and its 200-day moving average price is $13.48.
FireEye (NASDAQ:FEYE) last issued its quarterly 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. FireEye had a negative return on equity of 26.21% and a negative net margin of 46.37%. The company had revenue of $185.50 million for the quarter, compared to analyst estimates of $176.39 million. During the same quarter in the prior year, the company posted ($0.33) EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts anticipate that FireEye will post ($0.22) earnings per share for the current year.
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In other news, EVP Alexa King sold 69,884 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 428,733 shares in the company, valued at $6,199,479.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Shapiro Capital Management LLC increased its stake in FireEye by 17.9% in the first quarter. Shapiro Capital Management LLC now owns 18,840,343 shares of the information security company’s stock worth $237,577,000 after buying an additional 2,859,910 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in FireEye during the first quarter worth about $25,988,000. Norges Bank purchased a new stake in FireEye during the fourth quarter worth about $16,275,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in FireEye by 66.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,532,435 shares of the information security company’s stock worth $31,934,000 after buying an additional 1,014,120 shares during the last quarter. Finally, Boston Advisors LLC purchased a new stake in FireEye during the second quarter worth about $10,591,000. Institutional investors own 67.16% of the company’s stock.
FireEye Company Profile
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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