FireEye, Inc. (FEYE) Lifted to Overweight at Morgan Stanley
FireEye, Inc. (NASDAQ:FEYE) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $19.00 price target on the information security company’s stock, up from their previous price target of $13.00. Morgan Stanley’s target price indicates a potential upside of 18.68% from the company’s previous close.
Several other equities analysts have also issued reports on FEYE. Vetr raised FireEye from a “buy” rating to a “strong-buy” rating and set a $16.36 target price for the company in a report on Monday, May 15th. ValuEngine lowered FireEye from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Susquehanna Bancshares Inc assumed coverage on FireEye in a report on Wednesday, June 7th. They issued a “neutral” rating and a $17.00 target price for the company. BidaskClub lowered FireEye from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, UBS AG set a $16.00 price objective on FireEye and gave the company a “hold” rating in a report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. FireEye currently has an average rating of “Hold” and a consensus target price of $16.15.
Shares of FireEye (FEYE) opened at 16.01 on Thursday. FireEye has a 12-month low of $10.35 and a 12-month high of $16.40. The company’s 50-day moving average price is $14.70 and its 200 day moving average price is $13.85. The firm’s market capitalization is $2.92 billion.
FireEye (NASDAQ:FEYE) last released its earnings results on Tuesday, August 1st. The information security company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.13. The company had revenue of $185.50 million during 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%. FireEye’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) earnings per share. On average, equities analysts forecast that FireEye will post ($0.21) earnings per share for the current year.
In other FireEye 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 sale, the executive vice president now owns 428,733 shares in the company, valued at $6,199,479.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in FireEye by 30.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock valued at $101,000 after purchasing an additional 1,528 shares in the last quarter. Bank of Montreal Can raised its position in FireEye by 37.4% during the first quarter. Bank of Montreal Can now owns 7,887 shares of the information security company’s stock valued at $100,000 after purchasing an additional 2,147 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in FireEye by 15.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,134 shares of the information security company’s stock valued at $141,000 after purchasing an additional 1,252 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in FireEye during the second quarter valued at about $142,000. Finally, FNY Partners Fund LP raised its position in FireEye by 900.0% during the second quarter. FNY Partners Fund LP now owns 10,000 shares of the information security company’s stock valued at $152,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 67.65% 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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