FireEye (NASDAQ:FEYE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “FireEye is a specialized provider of a security platform against cyber-attacks to enterprises and governments. We consider that a shift from product-based to subscription-based business model will have a negative impact on FireEye’s near-term results, however, that will lead to more stable revenues in the long-run. Also, there is an advantage to the shorter-length contracts as they generally generate higher margins compared with three-year contracts. Going ahead, a healthy security market, strong product line-up, deal wins and investment plans should boost results in the long run. Notably, estimates have been stable ahead of the company's q4 earnings release. Nonetheless, negative operating cash flow remains a major headwind for FireEye, which may hinder the execution of its growth plans. Intensifying competition and an uncertain macroeconomic environment add to its woes.”
FEYE has been the topic of several other reports. Evercore ISI set a $20.00 price target on FireEye and gave the stock a “buy” rating in a research report on Sunday, October 15th. Piper Jaffray Companies restated a “hold” rating and issued a $18.50 price target on shares of FireEye in a research report on Tuesday, September 26th. Wedbush restated a “neutral” rating and issued a $14.00 price target on shares of FireEye in a research report on Tuesday, November 14th. BMO Capital Markets reduced their price target on FireEye from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 2nd. Finally, Cowen restated a “hold” rating and issued a $16.00 price target on shares of FireEye in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.22.
FireEye (NASDAQ:FEYE) last released its earnings results on Wednesday, November 1st. The information security company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The company had revenue of $189.60 million during the quarter, compared to analysts’ expectations of $186.41 million. FireEye had a negative return on equity of 23.71% and a negative net margin of 39.29%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned ($0.18) EPS. equities research analysts forecast that FireEye will post -1.07 earnings per share for the current year.
In other FireEye news, Director Ronald E. F. Codd sold 6,767 shares of FireEye stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $13.57, for a total value of $91,828.19. Following the sale, the director now owns 7,099 shares of the company’s stock, valued at approximately $96,333.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its stake in shares of FireEye by 20.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 62,940 shares of the information security company’s stock valued at $957,000 after purchasing an additional 10,631 shares during the period. FNY Partners Fund LP increased its position in shares of FireEye by 84.9% in the third quarter. FNY Partners Fund LP now owns 18,490 shares of the information security company’s stock valued at $310,000 after acquiring an additional 8,490 shares during the last quarter. Private Advisor Group LLC increased its position in shares of FireEye by 80.5% in the third quarter. Private Advisor Group LLC now owns 18,856 shares of the information security company’s stock valued at $338,000 after acquiring an additional 8,408 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of FireEye by 21.1% in the third quarter. D.A. Davidson & CO. now owns 59,772 shares of the information security company’s stock valued at $1,002,000 after acquiring an additional 10,405 shares during the last quarter. Finally, Boston Advisors LLC increased its position in shares of FireEye by 9.2% in the third quarter. Boston Advisors LLC now owns 760,345 shares of the information security company’s stock valued at $12,751,000 after acquiring an additional 64,010 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
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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