FireEye (NASDAQ:FEYE) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of FireEye (NASDAQ:FEYE) from a strong-buy rating to a buy rating in a report issued on Monday morning, BidAskClub reports.

FEYE has been the subject of several other research reports. William Blair reaffirmed a buy rating on shares of FireEye in a research note on Wednesday, October 9th. Northland Securities reaffirmed a buy rating and set a $19.00 price target on shares of FireEye in a research note on Friday, October 4th. JPMorgan Chase & Co. set a $20.00 price target on FireEye and gave the stock a buy rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed a market perform rating and set a $16.00 price target (down previously from $17.00) on shares of FireEye in a research note on Wednesday, July 31st. Finally, Wedbush dropped their price objective on FireEye from $17.00 to $15.00 and set a neutral rating for the company in a research 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 company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $18.42.

Shares of NASDAQ:FEYE traded down $0.04 during midday trading on Monday, hitting $17.01. 2,019,254 shares of the stock were exchanged, compared to its average volume of 3,658,458. The stock has a market cap of $3.70 billion, a P/E ratio of -23.63 and a beta of 0.97. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of 1.36. FireEye has a twelve month low of $12.66 and a twelve month high of $20.51. The company has a 50 day moving average price of $15.55 and a 200-day moving average price of $14.76.

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

Institutional investors have recently bought and sold shares of the stock. Oakworth Capital Inc. purchased a new stake in FireEye during the 2nd quarter worth about $26,000. Whittier Trust Co. increased its position in FireEye by 1,533.3% during the 3rd quarter. Whittier Trust Co. now owns 2,450 shares of the information security company’s stock worth $33,000 after purchasing an additional 2,300 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in FireEye during the 3rd quarter worth about $74,000. Enterprise Trust & Investment Co purchased a new stake in FireEye during the 2nd quarter worth about $89,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in FireEye during the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

About FireEye

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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Analyst Recommendations for FireEye (NASDAQ:FEYE)

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