FireEye Inc. (NASDAQ:FEYE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “FireEye is a specialized provider of a security platform against cyber-attacks to enterprises and governments. Off late, estimates have been stable for the company. 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 of such transactions were the iSIGHT Partners and Invotas buyouts. The deals has 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 uncertain macroeconomic environment add to its woes.”
A number of other analysts also recently commented on FEYE. Imperial Capital reiterated an “outperform” rating and issued a $25.00 price objective on shares of FireEye in a research report on Wednesday, June 8th. Wedbush reiterated a “neutral” rating and issued a $16.00 price objective (up previously from $13.00) on shares of FireEye in a research report on Wednesday, August 3rd. William Blair downgraded FireEye from an “outperform” rating to a “market perform” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. downgraded FireEye from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $15.00 in a research report on Friday, August 5th. Finally, Citigroup Inc. downgraded FireEye from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $18.00 in a research report on Friday, August 5th. Twenty equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. FireEye presently has an average rating of “Hold” and a consensus price target of $24.84.
Shares of FireEye (NASDAQ:FEYE) traded up 1.967% during mid-day trading on Wednesday, hitting $14.775. The stock had a trading volume of 2,515,070 shares. The firm’s 50-day moving average price is $14.65 and its 200 day moving average price is $15.87. FireEye has a 12-month low of $11.35 and a 12-month high of $32.42. The stock’s market cap is $2.51 billion.
FireEye (NASDAQ:FEYE) last announced its quarterly earnings data on Thursday, August 4th. The information security company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.06. FireEye had a negative return on equity of 46.11% and a negative net margin of 81.76%. The company earned $175 million during the quarter, compared to the consensus estimate of $181.67 million. During the same quarter last year, the company earned ($0.41) EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Equities analysts forecast that FireEye will post ($1.30) EPS for the current fiscal year.
In other news, President Travis M. Reese sold 2,466 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.19, for a total value of $34,992.54. Following the sale, the president now directly owns 388,841 shares in the company, valued at $5,517,653.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John T. Mcgee sold 14,988 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $14.20, for a total value of $212,829.60. Following the completion of the sale, the executive vice president now owns 155,905 shares in the company, valued at $2,213,851. The disclosure for this sale can be found here. 9.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Babson Capital Management LLC raised its stake in shares of FireEye by 130.7% in the first quarter. Babson Capital Management LLC now owns 51,900 shares of the information security company’s stock worth $934,000 after buying an additional 29,400 shares during the period. Eachwin Capital LP purchased a new stake in shares of FireEye during the first quarter worth approximately $413,000. LPL Financial LLC raised its stake in shares of FireEye by 55.1% in the first quarter. LPL Financial LLC now owns 75,799 shares of the information security company’s stock worth $1,324,000 after buying an additional 26,936 shares during the period. Sterling Ridge Capital Management LP purchased a new stake in shares of FireEye during the first quarter worth approximately $360,000. Finally, A.R.T. Advisors LLC raised its stake in shares of FireEye by 176.3% in the first quarter. A.R.T. Advisors LLC now owns 191,369 shares of the information security company’s stock worth $3,442,000 after buying an additional 122,100 shares during the period. Institutional investors own 52.39% of the company’s stock.
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.
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