Zacks Investment Research upgraded shares of FireEye (NASDAQ:FEYE) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $19.00 target price on the information security company’s stock.

According to Zacks, “FireEye's Q4 results reflects positive effects of its turnaround efforts, which include shifting the business model to a subscription-based one. The company benefited from its diversified product portfolio and increasing clientele. FireEye is gaining customer accounts and increasing penetration of existing customers, which is driving revenue growth. Strong adoption of Helix platform is a key driver. The company expects continued growth across network, email and endpoint security. Moreover, management is extremely bullish about the launch of Expertise On-Demand, which it expects “to have a pretty significant monetization stream on top of Helix as well.” However, shorter-length contracts remain a concern, which, despite generating higher margins compared with three-year contracts, adversely impact near-term top-line growth. Shares have underperformed the industry in the past year.”

A number of other research firms have also recently commented on FEYE. Robert W. Baird started coverage on FireEye in a research note on Wednesday, October 17th. They set an outperform rating and a $22.00 target price on the stock. BidaskClub cut FireEye from a buy rating to a hold rating in a research note on Friday, January 4th. BMO Capital Markets upped their target price on FireEye from $17.00 to $18.00 and gave the company a market perform rating in a research note on Wednesday, October 31st. Deutsche Bank upped their target price on FireEye from $18.00 to $20.00 and gave the company a hold rating in a research note on Wednesday, October 31st. Finally, BTIG Research cut FireEye from a buy rating to a neutral rating and set a $16.30 target price on the stock. in a research note on Thursday, February 7th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $19.69.

FEYE opened at $17.23 on Tuesday. The company has a market cap of $3.39 billion, a PE ratio of -23.93 and a beta of 1.07. FireEye has a one year low of $14.20 and a one year high of $20.61. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 1.46.

FireEye (NASDAQ:FEYE) last released its earnings results on Wednesday, February 6th. The information security company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $217.53 million for the quarter, compared to analysts’ expectations of $216.79 million. FireEye had a negative return on equity of 21.43% and a negative net margin of 29.26%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts predict that FireEye will post -0.51 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in shares of FireEye in the fourth quarter valued at approximately $40,000. Flinton Capital Management LLC purchased a new stake in shares of FireEye in the fourth quarter valued at approximately $50,000. Neuburgh Advisers LLC purchased a new stake in shares of FireEye in the fourth quarter valued at approximately $61,000. Stratos Wealth Partners LTD. purchased a new stake in shares of FireEye in the third quarter valued at approximately $114,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of FireEye in the third quarter valued at approximately $122,000. Hedge funds and other institutional investors own 72.64% 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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