FireEye Inc. (NASDAQ:FEYE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $15.00 target price on the information security company’s stock. Zacks Investment Research’s target price would suggest a potential upside of 8.62% from the stock’s previous close.

According to Zacks, “FireEye Inc. provides security platform for cyber-attacks to enterprises and governments. The Company offers web security, email security, file security and malware analysis. It provides products and services through distributors, resellers and strategic partners primarily in the United States, the Asia Pacific, Japan, Europe, the Middle East, Africa and internationally. FireEye Inc. is headquartered in Milpitas, California. “

A number of other analysts also recently commented on the stock. Wunderlich started coverage on shares of FireEye in a report on Tuesday, September 13th. They set a “hold” rating and a $16.00 price objective on the stock. Imperial Capital reissued an “outperform” rating and set a $25.00 price objective on shares of FireEye in a report on Sunday, July 24th. Nomura reissued a “buy” rating and set a $22.50 price objective on shares of FireEye in a report on Thursday, September 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price target (down previously from $16.00) on shares of FireEye in a report on Friday, August 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $16.00 price target (up previously from $13.00) on shares of FireEye in a report on Wednesday, August 3rd. Nineteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.84.

Analyst Recommendations for FireEye (NASDAQ:FEYE)

Shares of FireEye (NASDAQ:FEYE) opened at 13.81 on Tuesday. The stock’s 50 day moving average is $14.75 and its 200-day moving average is $16.11. FireEye has a one year low of $11.35 and a one year high of $34.50. The firm’s market cap is $2.34 billion.

FireEye (NASDAQ:FEYE) last released its quarterly earnings data on Thursday, August 4th. The information security company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. The firm had revenue of $175 million for the quarter, compared to the consensus estimate of $181.67 million. FireEye had a negative net margin of 81.76% and a negative return on equity of 46.11%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. Analysts anticipate that FireEye will post ($1.30) EPS for the current fiscal year.

In other FireEye news, President Travis M. Reese sold 2,466 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.19, for a total transaction of $34,992.54. Following the transaction, the president now directly owns 388,841 shares in the company, valued at approximately $5,517,653.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John T. Mcgee sold 14,988 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.20, for a total transaction of $212,829.60. Following the transaction, 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. Company insiders own 9.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FEYE. Cortina Asset Management LLC bought a new position in FireEye during the second quarter worth approximately $3,973,000. Prudential Financial Inc. acquired a new stake in shares of FireEye during the first quarter worth $357,000. JPMorgan Chase & Co. boosted its stake in shares of FireEye by 63.5% in the first quarter. JPMorgan Chase & Co. now owns 327,111 shares of the information security company’s stock worth $5,884,000 after buying an additional 127,031 shares during the period. Societe Generale acquired a new stake in shares of FireEye during the second quarter worth $3,291,000. Finally, Sterling Ridge Capital Management LP acquired a new stake in shares of FireEye during the first quarter worth $360,000. Hedge funds and other institutional investors own 52.39% of the company’s stock.

About FireEye

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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