FireEye Inc. (NASDAQ:FEYE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $15.00 target price on the information security company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 5.71% from the stock’s previous close.

According to Zacks, “Cybersecurity firm, FireEye recently reported strong third-quarter results, which not only came ahead of the Zacks Consensus Estimate but also marked a solid year-over-year improvement. The company added a huge number of new customers, of which 47 were of six-digit and 1 in seven-digit of sizes. We are optimistic about FireEye given a healthy security market, strong product line-up, deal wins and investment plans, which should boost results in the long run. Furthermore, FireEye’s strategy of growing through acquisitions is encouraging. The latest buyouts were that of iSIGHT Partners and Invotas. The deals have beefed up FireEye’s cyber security suite and enhanced its competitive dynamics. Nonetheless, near-term prospects for the company are not promising as changing customer spending behavior has recently hit several other players in this space. Intensifying competition and an uncertain macroeconomic environment add to its woes.”

Other research analysts have also recently issued reports about the stock. Piper Jaffray Cos. reiterated a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of FireEye in a research note on Friday, August 5th. Nomura reiterated a “buy” rating and issued a $22.50 target price on shares of FireEye in a research note on Thursday, September 8th. BTIG Research reiterated a “buy” rating and issued a $17.00 target price on shares of FireEye in a research note on Monday, October 31st. DA Davidson reiterated a “buy” rating and issued a $22.00 target price on shares of FireEye in a research note on Friday, November 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 target price (down from $16.00) on shares of FireEye in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. FireEye has a consensus rating of “Hold” and an average target price of $20.34.

Analyst Recommendations for FireEye (NASDAQ:FEYE)

FireEye (NASDAQ:FEYE) opened at 14.19 on Wednesday. The company’s market capitalization is $2.34 billion. The company has a 50-day moving average of $13.17 and a 200-day moving average of $14.94. FireEye has a 52 week low of $10.87 and a 52 week high of $23.82.

FireEye (NASDAQ:FEYE) last released its earnings results on Thursday, November 3rd. The information security company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.13. The firm had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $42.65 million. FireEye had a negative net margin of 77.67% and a negative return on equity of 44.91%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.37) earnings per share. On average, equities research analysts anticipate that FireEye will post ($1.14) EPS for the current year.

In other news, President Travis M. Reese sold 2,466 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $14.19, for a total value of $34,992.54. Following the completion of the sale, the president now directly owns 388,841 shares of the company’s stock, valued at approximately $5,517,653.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John T. Mcgee sold 14,988 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.20, for a total transaction of $212,829.60. Following the completion of the sale, the executive vice president now directly owns 155,905 shares of the company’s stock, valued at $2,213,851. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. TRUE Private Wealth Advisors boosted its stake in FireEye by 6.3% in the third quarter. TRUE Private Wealth Advisors now owns 11,030 shares of the information security company’s stock valued at $141,000 after buying an additional 650 shares in the last quarter. Brave Asset Management Inc raised its position in shares of FireEye by 138.9% in the second quarter. Brave Asset Management Inc now owns 8,600 shares of the information security company’s stock valued at $142,000 after buying an additional 5,000 shares during the last quarter. Financial Architects Inc raised its position in shares of FireEye by 30.0% in the second quarter. Financial Architects Inc now owns 9,030 shares of the information security company’s stock valued at $148,000 after buying an additional 2,083 shares during the last quarter. Bank of Montreal Can raised its position in shares of FireEye by 2.2% in the third quarter. Bank of Montreal Can now owns 10,093 shares of the information security company’s stock valued at $148,000 after buying an additional 213 shares during the last quarter. Finally, MSI Financial Services Inc raised its position in shares of FireEye by 17.9% in the third quarter. MSI Financial Services Inc now owns 10,845 shares of the information security company’s stock valued at $160,000 after buying an additional 1,645 shares during the last quarter. 52.40% of the stock is owned by hedge funds and other institutional investors.

FireEye Company Profile

FireEye, Inc provides cybersecurity solution for detecting, preventing and resolving cyber-attacks. The Company’s cybersecurity solutions combine its purpose-built virtual-machine technology, threat intelligence and security in a suite of products and services. The Company’s cybersecurity platform includes a family of software-based appliances, endpoint agents, cloud-based subscription services, support and maintenance and other services.

5 Day Chart for NASDAQ:FEYE

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