BMO Capital Markets Reaffirms “Hold” Rating for FireEye, Inc. (FEYE)
FireEye, Inc. (NASDAQ:FEYE)‘s stock had its “hold” rating reiterated by research analysts at BMO Capital Markets in a note issued to investors on Thursday. They presently have a $17.00 target price on the information security company’s stock. BMO Capital Markets’ price target points to a potential downside of 2.75% from the stock’s current price.
A number of other brokerages also recently weighed in on FEYE. BTIG Research reissued a “buy” rating and issued a $18.00 price objective (up from $17.00) on shares of FireEye in a research note on Tuesday, August 8th. Evercore ISI set a $20.00 price objective on FireEye and gave the company a “buy” rating in a research note on Friday, August 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.50 price objective on shares of FireEye in a research note on Tuesday, September 26th. Deutsche Bank AG raised their price objective on FireEye from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded FireEye from a “buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.95.
Shares of FireEye (NASDAQ:FEYE) traded up 2.088% during mid-day trading on Thursday, hitting $17.845. The stock had a trading volume of 3,456,261 shares. The firm’s market cap is $3.25 billion. The company has a 50-day moving average of $15.82 and a 200 day moving average of $14.65. FireEye has a one year low of $10.35 and a one year high of $17.97.
FireEye (NASDAQ:FEYE) last posted its quarterly earnings results on Tuesday, August 1st. The information security company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $176.39 million. During the same period last year, the business earned ($0.33) EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that FireEye will post ($0.21) earnings per share for the current year.
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In related news, President Travis M. Reese sold 11,555 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $17.50, for a total value of $202,212.50. Following the sale, the president now owns 508,210 shares of the company’s stock, valued at approximately $8,893,675. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexa King sold 69,884 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $14.46, for a total value 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 approximately $6,199,479.18. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in FireEye by 30.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock valued at $101,000 after buying an additional 1,528 shares in the last quarter. Bank of Montreal Can boosted its stake in FireEye by 37.4% in the 1st 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in FireEye by 15.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,134 shares of the information security company’s stock valued at $141,000 after buying an additional 1,252 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in FireEye in the 2nd quarter valued at $142,000. Finally, FNY Partners Fund LP boosted its stake in FireEye by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the information security company’s stock valued at $152,000 after buying an additional 9,000 shares in the last quarter. 67.59% of the stock is currently owned by institutional investors and hedge funds.
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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