FireEye (NASDAQ:FEYE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm presently has a $21.00 target price on the information security company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 6.65% from the company’s current price.
According to Zacks, “FireEye’s fourth-quarter results hurt from a fall in appliance-hardware sales, which remained an overhang on deferred revenues. Higher mix of revenues from services led to contraction in gross margin. It expects the pandemic to affect contract length significantly in the near term. Additionally, the Red Team and SolarWinds data breaches can impact FireEye's business in the near-term as customers may become hesitant in buying its solutions. Nonetheless, it benefited from increased demand for cybersecurity solutions amid the coronavirus-induced remote working trend. Strong demand for Threat Analytics Platform, Cloud Subscription, Managed Services and Mandiant Consulting services bodes well for future growth. Further, lower operating expenses helped expand operating margin. Shares have outperformed the industry over the past year.”
A number of other analysts have also weighed in on FEYE. Bank of America upgraded shares of FireEye from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, February 4th. Barclays raised their price objective on shares of FireEye from $19.00 to $21.00 and gave the company an “underweight” rating in a research note on Wednesday, February 3rd. Mizuho raised their price objective on shares of FireEye from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, February 3rd. BMO Capital Markets raised their price objective on shares of FireEye from $17.00 to $25.00 and gave the company a “market perform” rating in a research note on Wednesday, February 3rd. Finally, Truist lowered shares of FireEye from a “buy” rating to a “hold” rating in a research note on Monday, December 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.62.
FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Monday, February 1st. The information security company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $240.14 million. FireEye had a negative net margin of 23.48% and a negative return on equity of 13.83%. FireEye’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. On average, equities analysts anticipate that FireEye will post -0.33 EPS for the current year.
In related news, EVP Alexa King sold 39,814 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $20.54, for a total value of $817,779.56. Following the transaction, the executive vice president now owns 340,062 shares of the company’s stock, valued at $6,984,873.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in shares of FireEye by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 33,955 shares of the information security company’s stock worth $783,000 after buying an additional 613 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of FireEye by 2.5% in the fourth quarter. M&T Bank Corp now owns 25,252 shares of the information security company’s stock worth $583,000 after buying an additional 626 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of FireEye by 9.2% in the fourth quarter. ProShare Advisors LLC now owns 10,942 shares of the information security company’s stock worth $252,000 after buying an additional 926 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV raised its stake in FireEye by 1.2% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 86,392 shares of the information security company’s stock worth $1,992,000 after acquiring an additional 1,032 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in FireEye by 650.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,500 shares of the information security company’s stock worth $35,000 after acquiring an additional 1,300 shares during the period. 79.78% of the stock is currently owned by institutional investors.
FireEye Company Profile
FireEye, Inc provides intelligence-based cybersecurity solutions to prepare for, prevent, investigate, respond to, and remediate cyber-attacks in organizations. Its FireEye products include network, email, endpoint, and cloud security control products to detect and prevent threats; Dynamic Threat Intelligence Cloud, a bi-directional cloud-based service; Helix Security Operations Platform, a cloud-hosted security operations platform; Cloudvisory cloud security products; and customer support and maintenance services.
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