FireEye (FEYE) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of FireEye (NASDAQ:FEYE) from a hold rating to a buy rating in a research report released on Friday.

FEYE has been the topic of several other reports. Zacks Investment Research upgraded shares of FireEye from a hold rating to a buy rating and set a $17.00 price objective on the stock in a report on Wednesday, August 8th. Goldman Sachs Group set a $22.00 target price on shares of FireEye and gave the stock a buy rating in a report on Thursday, October 4th. ValuEngine lowered shares of FireEye from a hold rating to a sell rating in a report on Friday, September 7th. Piper Jaffray Companies upgraded shares of FireEye from a neutral rating to an overweight rating and set a $24.00 target price on the stock in a report on Monday, July 9th. Finally, Wedbush reiterated a neutral rating and issued a $16.00 target price on shares of FireEye in a report on Thursday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $19.59.

NASDAQ FEYE traded up $0.50 during trading hours on Friday, hitting $16.68. The company’s stock had a trading volume of 4,704,378 shares, compared to its average volume of 3,865,708. FireEye has a twelve month low of $13.40 and a twelve month high of $19.36. The firm has a market capitalization of $3.32 billion, a P/E ratio of -15.30 and a beta of 0.38. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.03 and a quick ratio of 2.02.

FireEye (NASDAQ:FEYE) last announced its quarterly earnings data on Wednesday, August 1st. The information security company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. FireEye had a negative net margin of 37.13% and a negative return on equity of 25.26%. The business had revenue of $203.00 million for the quarter, compared to analyst estimates of $201.54 million. During the same period in the prior year, the business posted ($0.04) earnings per share. FireEye’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts expect that FireEye will post -0.79 EPS for the current fiscal year.

In other news, President Travis M. Reese sold 3,201 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total transaction of $46,286.46. Following the completion of the sale, the president now owns 715,060 shares of the company’s stock, valued at $10,339,767.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Frank Verdecanna sold 11,219 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $14.46, for a total transaction of $162,226.74. The disclosure for this sale can be found here. Insiders have sold 20,820 shares of company stock valued at $301,057 in the last three months. 2.40% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of FEYE. Valeo Financial Advisors LLC increased its position in shares of FireEye by 166.7% during the second quarter. Valeo Financial Advisors LLC now owns 8,000 shares of the information security company’s stock worth $119,000 after acquiring an additional 5,000 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of FireEye by 946.5% during the first quarter. Point72 Asia Hong Kong Ltd now owns 7,336 shares of the information security company’s stock worth $124,000 after acquiring an additional 6,635 shares in the last quarter. Global X Management Co LLC bought a new stake in shares of FireEye during the second quarter worth $131,000. Asset Management One Co. Ltd. increased its position in shares of FireEye by 56.9% during the first quarter. Asset Management One Co. Ltd. now owns 7,800 shares of the information security company’s stock worth $132,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of FireEye during the second quarter worth $160,000. 69.92% of the stock is owned by institutional investors.

About FireEye

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions.

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