FireEye’s (FEYE) “Hold” Rating Reiterated at Cowen and Company
FireEye, Inc. (NASDAQ:FEYE)‘s stock had its “hold” rating reiterated by investment analysts at Cowen and Company in a report issued on Friday. They presently have a $16.00 price objective on the information security company’s stock. Cowen and Company’s price objective would suggest a potential upside of 10.00% from the stock’s current price.
Several other brokerages have also commented on FEYE. Evercore ISI set a $20.00 price objective on FireEye and gave the company a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of FireEye in a research report on Wednesday, August 2nd. Vetr downgraded FireEye from a “strong-buy” rating to a “buy” rating and set a $17.31 price objective for the company. in a report on Wednesday, July 12th. BTIG Research reiterated a “buy” rating and issued a $18.00 price objective (up from $17.00) on shares of FireEye in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded FireEye from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.19.
Shares of FireEye (FEYE) traded down $1.83 on Friday, reaching $14.55. 7,070,141 shares of the company were exchanged, compared to its average volume of 4,151,985.
FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Wednesday, November 1st. The information security company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. FireEye had a negative net margin of 39.29% and a negative return on equity of 23.37%. The business had revenue of $189.60 million for the quarter, compared to analysts’ expectations of $186.41 million. During the same period last year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. analysts predict that FireEye will post -1.09 EPS for the current fiscal year.
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In other FireEye news, President Travis M. Reese sold 88,445 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.50, for a total transaction of $1,547,787.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexa King sold 25,000 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $18.00, for a total value of $450,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,000 shares of company stock worth $2,200,000. Insiders own 2.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FEYE. ETF Managers Group LLC purchased a new position in FireEye in the second quarter valued at about $43,372,000. Balyasny Asset Management LLC grew its stake in shares of FireEye by 213.3% during the second quarter. Balyasny Asset Management LLC now owns 2,902,297 shares of the information security company’s stock valued at $44,144,000 after acquiring an additional 1,975,924 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in FireEye by 81.7% in the second quarter. Pinnacle Associates Ltd. now owns 3,444,096 shares of the information security company’s stock worth $52,385,000 after purchasing an additional 1,548,425 shares in the last quarter. Vanguard Group Inc. grew its stake in FireEye by 7.9% in the second quarter. Vanguard Group Inc. now owns 12,578,361 shares of the information security company’s stock worth $191,317,000 after purchasing an additional 917,967 shares in the last quarter. Finally, Boston Advisors LLC acquired a new position in FireEye in the second quarter worth about $10,591,000. 68.16% of the stock is currently owned by institutional investors.
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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