FireEye’s (FEYE) Buy Rating Reaffirmed at Evercore ISI

FireEye, Inc. (NASDAQ:FEYE)‘s stock had its “buy” rating reissued by analysts at Evercore ISI in a research note issued on Thursday, November 2nd. They presently have a $20.00 price objective on the information security company’s stock. Evercore ISI’s price target suggests a potential upside of 44.04% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating on shares of FireEye in a research report on Wednesday, July 19th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $23.00 price target on shares of FireEye in a research report on Wednesday, August 2nd. BMO Capital Markets lifted their price target on shares of FireEye from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Wednesday, August 2nd. Morgan Stanley upgraded shares of FireEye from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $19.00 in a research report on Thursday, September 7th. Finally, Standpoint Research cut shares of FireEye from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Monday, September 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.26.

FireEye (NASDAQ:FEYE) traded down $0.33 during trading hours on Thursday, hitting $13.89. 845,647 shares of the stock were exchanged, compared to its average volume of 5,574,971. FireEye has a 1 year low of $10.35 and a 1 year high of $18.00. The company has a current ratio of 1.99, a quick ratio of 1.98 and a debt-to-equity ratio of 1.00.

FireEye (NASDAQ:FEYE) last posted its quarterly earnings data on Wednesday, November 1st. The information security company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. FireEye had a negative net margin of 39.29% and a negative return on equity of 23.71%. The business had revenue of $189.60 million for the quarter, compared to the consensus estimate of $186.41 million. During the same period last year, the firm posted ($0.18) earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. research analysts predict that FireEye will post -1.06 EPS for the current fiscal year.

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In other FireEye 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 transaction, the president now owns 508,210 shares of the company’s stock, valued at $8,893,675. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Travis M. Reese sold 88,445 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.50, for a total value of $1,547,787.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,000 shares of company stock worth $2,200,000. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 917,967 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of FireEye by 81.7% during the second quarter. Pinnacle Associates Ltd. now owns 3,444,096 shares of the information security company’s stock worth $52,385,000 after buying an additional 1,548,425 shares during the period. Balyasny Asset Management LLC boosted its position in 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 purchasing an additional 1,975,924 shares during the last quarter. ETF Managers Group LLC acquired a new position in FireEye during the second quarter valued at approximately $43,372,000. Finally, Neuberger Berman Group LLC boosted its position in FireEye by 10.1% during the second quarter. Neuberger Berman Group LLC now owns 2,488,796 shares of the information security company’s stock valued at $37,855,000 after purchasing an additional 229,245 shares during the last quarter. Institutional investors own 67.12% of the company’s stock.

About FireEye

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).

Analyst Recommendations for FireEye (NASDAQ:FEYE)

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