Goldman Sachs Group Begins Coverage on FireEye (NASDAQ:FEYE)

Equities research analysts at Goldman Sachs Group initiated coverage on shares of FireEye (NASDAQ:FEYE) in a report released on Tuesday, The Fly reports. The brokerage set a “neutral” rating and a $18.00 price target on the information security company’s stock. Goldman Sachs Group’s target price indicates a potential upside of 5.14% from the stock’s current price.

A number of other analysts also recently issued reports on FEYE. TheStreet raised shares of FireEye from a “d+” rating to a “c-” rating in a report on Tuesday, October 29th. Wedbush dropped their price objective on shares of FireEye from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Robert W. Baird set a $23.00 price objective on shares of FireEye and gave the stock a “buy” rating in a report on Wednesday, October 9th. Nomura began coverage on shares of FireEye in a report on Tuesday, August 6th. They set a “buy” rating and a $16.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price objective (down from $17.00) on shares of FireEye in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.42.

NASDAQ FEYE opened at $17.12 on Tuesday. FireEye has a 52-week low of $12.66 and a 52-week high of $20.51. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.52 and a current ratio of 1.53. The company has a market capitalization of $3.73 billion, a P/E ratio of -23.78 and a beta of 0.97. The company has a fifty day moving average of $15.06 and a 200-day moving average of $14.72.

FireEye (NASDAQ:FEYE) last posted its quarterly earnings data on Tuesday, October 29th. The information security company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. FireEye had a negative net margin of 29.44% and a negative return on equity of 20.06%. The company had revenue of $225.91 million during the quarter, compared to the consensus estimate of $220.09 million. During the same period in the previous year, the firm posted $0.06 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts forecast that FireEye will post -0.62 EPS for the current fiscal year.

In other FireEye news, CFO Frank Verdecanna sold 10,525 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.29, for a total value of $139,877.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William T. Robbins sold 6,316 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.29, for a total transaction of $83,939.64. Following the completion of the transaction, the executive vice president now owns 411,357 shares in the company, valued at approximately $5,466,934.53. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FEYE. Vanguard Group Inc. increased its position in shares of FireEye by 5.5% in the second quarter. Vanguard Group Inc. now owns 18,190,940 shares of the information security company’s stock valued at $269,407,000 after acquiring an additional 945,885 shares during the period. Crosslink Capital Inc. purchased a new position in shares of FireEye in the second quarter valued at about $10,844,000. Canada Pension Plan Investment Board increased its position in shares of FireEye by 209.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,089,169 shares of the information security company’s stock valued at $16,131,000 after acquiring an additional 737,369 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of FireEye in the second quarter valued at about $8,676,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of FireEye by 52.6% in the second quarter. Jacobs Levy Equity Management Inc. now owns 1,510,010 shares of the information security company’s stock valued at $22,363,000 after acquiring an additional 520,487 shares during the period. Hedge funds and other institutional investors own 71.10% of the company’s stock.

FireEye Company Profile

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, investigate, respond to, and remediate cyber-attacks. The company provides threat detection and prevention solutions, including network security solutions, email security solutions, endpoint security solutions, and customer support and maintenance services.

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