Wedbush Reaffirms Neutral Rating for FireEye (NASDAQ:FEYE)

Wedbush restated their neutral rating on shares of FireEye (NASDAQ:FEYE) in a research note issued to investors on Tuesday, November 14th. They currently have a $14.00 price objective on the information security company’s stock. Wedbush also issued estimates for FireEye’s Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($1.12) EPS, Q1 2018 earnings at ($0.27) EPS, Q3 2018 earnings at ($0.22) EPS, Q4 2018 earnings at ($0.19) EPS and FY2018 earnings at ($0.93) EPS.

Several other equities research analysts also recently commented on FEYE. Morgan Stanley raised FireEye from an equal weight rating to an overweight rating and upped their target price for the company from $13.00 to $19.00 in a report on Thursday, September 7th. Goldman Sachs Group reissued a buy rating and issued a $19.00 price objective on shares of FireEye in a research note on Wednesday, August 23rd. Bank of America raised their price target on FireEye from $18.00 to $21.00 and gave the stock a buy rating in a research note on Monday, September 25th. Stephens raised FireEye from an equal weight rating to an overweight rating and raised their price target for the stock from $16.00 to $22.00 in a research note on Monday, September 11th. Finally, Vetr raised FireEye from a buy rating to a strong-buy rating and set a $17.53 price objective on the stock in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $17.22.

Shares of FireEye (FEYE) traded down $0.04 on Tuesday, hitting $14.10. The company’s stock had a trading volume of 3,307,572 shares, compared to its average volume of 3,628,788. FireEye has a one year low of $10.35 and a one year high of $18.00. The company has a current ratio of 1.99, a quick ratio of 1.98 and a debt-to-equity ratio of 1.00.

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, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. FireEye had a negative return on equity of 23.71% and a negative net margin of 39.29%. The business had revenue of $189.60 million for the quarter, compared to analyst estimates of $186.41 million. During the same period in the prior year, the company posted ($0.18) EPS. The business’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts expect that FireEye will post -1.07 earnings per share for the current fiscal year.

In other news, President Travis M. Reese sold 88,445 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.50, for a total value of $1,547,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Travis M. Reese sold 11,555 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $17.50, for a total value of $202,212.50. Following the completion of the transaction, the president now owns 508,210 shares of the company’s stock, valued at $8,893,675. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,767 shares of company stock worth $2,291,828. Company insiders own 2.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its holdings in FireEye by 13.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 243,614 shares of the information security company’s stock worth $3,705,000 after acquiring an additional 28,450 shares during the period. Unterberg Capital LLC acquired a new stake in FireEye during the 2nd quarter worth about $4,031,000. Canada Pension Plan Investment Board grew its holdings in FireEye by 31.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 68,700 shares of the information security company’s stock worth $1,045,000 after acquiring an additional 16,600 shares during the period. Public Employees Retirement System of Ohio grew its holdings in FireEye by 20.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 62,940 shares of the information security company’s stock worth $957,000 after acquiring an additional 10,631 shares during the period. Finally, Boston Advisors LLC grew its holdings in FireEye by 9.2% during the 3rd quarter. Boston Advisors LLC now owns 760,345 shares of the information security company’s stock worth $12,751,000 after acquiring an additional 64,010 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for FireEye (NASDAQ:FEYE)

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