FireEye’s (FEYE) Hold Rating Reiterated at Cowen and Company
FireEye, Inc. (NASDAQ:FEYE)‘s stock had its “hold” rating reissued by stock analysts at Cowen and Company in a research note issued to investors on Friday. They presently have a $16.00 price objective on the information security company’s stock. Cowen and Company’s price target suggests a potential upside of 10.00% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Oppenheimer Holdings, Inc. decreased their price target on shares of FireEye from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets decreased their price target on shares of FireEye from $17.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday. Evercore ISI reaffirmed a “buy” rating and issued a $20.00 price target on shares of FireEye in a report on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target (up previously from $14.00) on shares of FireEye in a report on Thursday. Finally, Dougherty & Co raised shares of FireEye from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.19.
FireEye (NASDAQ FEYE) traded down $1.83 during midday trading on Friday, hitting $14.55. 7,066,161 shares of the company’s stock were exchanged, compared to its average volume of 4,151,985.
FireEye (NASDAQ:FEYE) last posted its quarterly earnings results on Wednesday, November 1st. The information security company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The business had revenue of $189.60 million during the quarter, compared to analysts’ expectations of $186.41 million. FireEye had a negative net margin of 39.29% and a negative return on equity of 23.37%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. analysts predict that FireEye will post -1.09 earnings per share for the current fiscal year.
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In other news, EVP Alexa King sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $18.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Travis M. Reese sold 11,555 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $17.50, for a total transaction of $202,212.50. Following the completion of the transaction, the president now directly owns 508,210 shares in the company, valued at $8,893,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,000 shares of company stock worth $2,200,000. Company insiders own 2.40% of the company’s stock.
Several large investors have recently bought and sold shares of FEYE. UBS Asset Management Americas Inc. lifted its stake in shares of FireEye by 16.7% in the first quarter. UBS Asset Management Americas Inc. now owns 96,746 shares of the information security company’s stock worth $1,220,000 after buying an additional 13,814 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of FireEye by 653.7% in the first quarter. Ameriprise Financial Inc. now owns 157,624 shares of the information security company’s stock worth $1,988,000 after buying an additional 136,710 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of FireEye by 251.1% in the first quarter. PNC Financial Services Group Inc. now owns 13,691 shares of the information security company’s stock worth $173,000 after buying an additional 9,791 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of FireEye by 195.4% in the first quarter. Legal & General Group Plc now owns 50,030 shares of the information security company’s stock worth $631,000 after buying an additional 33,096 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of FireEye by 2.3% in the first quarter. Vanguard Group Inc. now owns 11,660,394 shares of the information security company’s stock worth $147,038,000 after buying an additional 257,120 shares in the last quarter. 68.16% 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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