FireEye’s (FEYE) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of FireEye, Inc. (NASDAQ:FEYE) in a report published on Thursday morning. BMO Capital Markets currently has a $17.00 price target on the information security company’s stock.
Several other equities research analysts also recently commented on the company. Morgan Stanley upgraded FireEye from an equal weight rating to an overweight rating and boosted their price objective for the company from $13.00 to $19.00 in a report on Thursday, September 7th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $19.00 price objective on shares of FireEye in a report on Wednesday, August 23rd. Vetr upgraded FireEye from a buy rating to a strong-buy rating and set a $17.53 price objective for the company in a report on Monday, July 17th. Stephens upgraded FireEye from an equal weight rating to an overweight rating and boosted their price objective for the company from $16.00 to $22.00 in a report on Monday, September 11th. Finally, Bank of America Corporation boosted their price objective on FireEye from $18.00 to $21.00 and gave the company a buy rating in a report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. FireEye has a consensus rating of Hold and an average price target of $16.95.
FireEye (FEYE) opened at 17.98 on Thursday. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $14.72. FireEye has a 52 week low of $10.35 and a 52 week high of $18.00. The company’s market capitalization is $3.28 billion.
FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Tuesday, August 1st. The information security company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. FireEye had a negative return on equity of 26.21% and a negative net margin of 46.37%. The firm had revenue of $185.50 million for the quarter, compared to analyst estimates of $176.39 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Analysts predict that FireEye will post ($0.21) EPS for the current fiscal year.
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In other news, President Travis M. Reese sold 88,445 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.50, for a total transaction of $1,547,787.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alexa King sold 69,884 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $14.46, for a total value of $1,010,522.64. Following the transaction, the executive vice president now directly owns 428,733 shares in the company, valued at approximately $6,199,479.18. The disclosure for this sale can be found here. Insiders have sold a total of 169,884 shares of company stock worth $2,760,523 in the last ninety days. Insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in FireEye by 37.4% during the 1st quarter. Bank of Montreal Can now owns 7,887 shares of the information security company’s stock worth $100,000 after purchasing an additional 2,147 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in FireEye by 30.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock worth $101,000 after purchasing an additional 1,528 shares in the last quarter. US Bancorp DE lifted its holdings in FireEye by 271.0% during the 1st quarter. US Bancorp DE now owns 10,662 shares of the information security company’s stock worth $135,000 after purchasing an additional 7,788 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in FireEye by 15.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,134 shares of the information security company’s stock worth $141,000 after purchasing an additional 1,252 shares in the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in FireEye during the 2nd quarter worth about $142,000. 67.59% of the stock is currently owned by hedge funds and other institutional investors.
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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