Citigroup Raises FireEye (FEYE) Price Target to $18.00

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FireEye (NASDAQ:FEYE) had its price target increased by stock analysts at Citigroup from $17.00 to $18.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the information security company’s stock. Citigroup’s target price suggests a potential downside of 3.49% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Deutsche Bank lifted their target price on FireEye from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on FireEye to $20.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI reaffirmed a “buy” rating and issued a $22.00 target price on shares of FireEye in a research report on Thursday, August 23rd. BMO Capital Markets dropped their target price on FireEye from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, August 2nd. Finally, BidaskClub raised FireEye from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.72.

NASDAQ FEYE traded up $1.80 during trading on Wednesday, hitting $18.65. The stock had a trading volume of 7,244,086 shares, compared to its average volume of 5,592,224. The company has a market cap of $3.31 billion, a P/E ratio of -17.11 and a beta of 0.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.03 and a quick ratio of 2.02. FireEye has a twelve month low of $13.40 and a twelve month high of $19.36.

FireEye (NASDAQ:FEYE) last released its earnings results on Tuesday, October 30th. The information security company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $211.65 million during the quarter, compared to the consensus estimate of $208.46 million. FireEye had a negative return on equity of 25.26% and a negative net margin of 37.13%. FireEye’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. On average, analysts anticipate that FireEye will post -0.79 EPS for the current fiscal year.

In other news, CFO Frank Verdecanna sold 11,219 shares of FireEye stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $14.46, for a total value of $162,226.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Travis M. Reese sold 3,201 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $14.46, for a total value of $46,286.46. Following the sale, the president now owns 715,060 shares of the company’s stock, valued at approximately $10,339,767.60. The disclosure for this sale can be found here. Insiders sold a total of 55,820 shares of company stock valued at $931,071 in the last quarter. Company insiders own 2.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC lifted its stake in FireEye by 166.7% during the second quarter. Valeo Financial Advisors LLC now owns 8,000 shares of the information security company’s stock worth $119,000 after purchasing an additional 5,000 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in FireEye during the third quarter worth approximately $122,000. Global X Management Co LLC purchased a new stake in FireEye during the second quarter worth approximately $131,000. Centaurus Financial Inc. purchased a new stake in FireEye during the second quarter worth approximately $160,000. Finally, Skylands Capital LLC purchased a new stake in FireEye during the third quarter worth approximately $170,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

About FireEye

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions.

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