FireEye (FEYE) Rating Lowered to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of FireEye (NASDAQ:FEYE) from an overweight rating to an equal weight rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $21.00 price target on the information security company’s stock.

A number of other brokerages have also recently commented on FEYE. Robert W. Baird initiated coverage on FireEye in a research note on Wednesday, October 17th. They issued an outperform rating and a $22.00 price target for the company. ValuEngine upgraded FireEye from a sell rating to a hold rating in a research note on Wednesday, September 26th. BMO Capital Markets increased their price target on FireEye from $17.00 to $18.00 and gave the company a market perform rating in a research note on Wednesday, October 31st. Zacks Investment Research reiterated a strong-buy rating and issued a $21.00 price target on shares of FireEye in a research note on Tuesday, November 13th. Finally, Deutsche Bank increased their price target on FireEye from $18.00 to $20.00 and gave the company a hold rating in a research note on Wednesday, October 31st. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $20.27.

Shares of FEYE opened at $18.58 on Thursday. FireEye has a 52 week low of $13.60 and a 52 week high of $20.61. The firm has a market capitalization of $3.66 billion, a PE ratio of -17.05 and a beta of 0.28. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.01.

FireEye (NASDAQ:FEYE) last announced its quarterly earnings results on Tuesday, October 30th. The information security company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. FireEye had a negative return on equity of 22.98% and a negative net margin of 33.32%. The company had revenue of $211.65 million during the quarter, compared to analysts’ expectations of $208.46 million. During the same period in the prior year, the company earned ($0.04) EPS. FireEye’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that FireEye will post -0.71 EPS for the current year.

In related news, EVP William T. Robbins sold 1,409 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $18.01, for a total transaction of $25,376.09. Following the completion of the transaction, the executive vice president now directly owns 324,444 shares of the company’s stock, valued at approximately $5,843,236.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William T. Robbins sold 33,591 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $18.00, for a total value of $604,638.00. Following the transaction, the executive vice president now directly owns 325,853 shares of the company’s stock, valued at $5,865,354. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,643 shares of company stock valued at $1,862,222. 2.40% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new position in shares of FireEye in the 3rd quarter worth about $114,000. Valeo Financial Advisors LLC raised its position in shares of FireEye by 166.7% in the 2nd 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. TRUE Private Wealth Advisors bought a new position in shares of FireEye in the 3rd quarter worth about $122,000. Global X Management Co LLC bought a new position in shares of FireEye in the 2nd quarter worth about $131,000. Finally, Centaurus Financial Inc. bought a new position in shares of FireEye in the 2nd quarter worth about $160,000. 74.10% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for FireEye (NASDAQ:FEYE)

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