Brokerages Anticipate FireEye Inc (FEYE) Will Post Quarterly Sales of $208.32 Million

Wall Street analysts predict that FireEye Inc (NASDAQ:FEYE) will announce sales of $208.32 million for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for FireEye’s earnings. The lowest sales estimate is $207.97 million and the highest is $209.40 million. FireEye reported sales of $189.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.9%. The business is expected to announce its next earnings results after the market closes on Tuesday, October 30th.

On average, analysts expect that FireEye will report full-year sales of $826.48 million for the current fiscal year, with estimates ranging from $825.00 million to $828.50 million. For the next fiscal year, analysts forecast that the company will post sales of $884.53 million, with estimates ranging from $867.00 million to $892.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover FireEye.

FireEye (NASDAQ:FEYE) last released its earnings results on Wednesday, August 1st. The information security company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The company had revenue of $203.00 million for the quarter, compared to analyst estimates of $201.54 million. FireEye had a negative net margin of 37.13% and a negative return on equity of 25.26%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS.

Several research analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of FireEye from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, August 2nd. Evercore ISI reiterated a “buy” rating and set a $22.00 price objective on shares of FireEye in a report on Thursday, August 23rd. BidaskClub lowered shares of FireEye from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Wedbush reiterated a “neutral” rating and set a $16.00 price objective on shares of FireEye in a report on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of FireEye from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.61.

In related news, CFO Frank Verdecanna sold 11,219 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total value of $162,226.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William T. Robbins sold 6,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total transaction of $92,544.00. Following the completion of the transaction, the executive vice president now owns 359,444 shares in the company, valued at approximately $5,197,560.24. The disclosure for this sale can be found here. Insiders sold 20,820 shares of company stock worth $301,057 in the last 90 days. 2.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. raised its holdings in FireEye by 100.0% in the second quarter. OppenheimerFunds Inc. now owns 6,000,378 shares of the information security company’s stock valued at $92,346,000 after buying an additional 3,000,051 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its holdings in FireEye by 18.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,320,235 shares of the information security company’s stock valued at $35,708,000 after buying an additional 363,900 shares during the period. Fisher Asset Management LLC raised its holdings in FireEye by 8.1% in the second quarter. Fisher Asset Management LLC now owns 2,272,111 shares of the information security company’s stock valued at $34,968,000 after buying an additional 170,299 shares during the period. Renaissance Technologies LLC raised its holdings in FireEye by 20.2% in the second quarter. Renaissance Technologies LLC now owns 2,190,466 shares of the information security company’s stock valued at $33,711,000 after buying an additional 368,666 shares during the period. Finally, Millennium Management LLC raised its holdings in FireEye by 125.8% in the second quarter. Millennium Management LLC now owns 1,509,436 shares of the information security company’s stock valued at $23,230,000 after buying an additional 841,080 shares during the period. Hedge funds and other institutional investors own 69.92% of the company’s stock.

Shares of FEYE stock opened at $17.37 on Monday. The stock has a market cap of $3.32 billion, a PE ratio of -15.94 and a beta of 0.38. FireEye has a 1-year low of $13.40 and a 1-year high of $19.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.02 and a current ratio of 2.03.

FireEye Company Profile

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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