FireEye (FEYE) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of FireEye (NASDAQ:FEYE) in a research report released on Wednesday. The brokerage currently has a $18.00 price target on the information security company’s stock. Wedbush also issued estimates for FireEye’s Q1 2020 earnings at ($0.13) EPS and Q3 2020 earnings at ($0.04) EPS.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of FireEye from a hold rating to a sell rating in a research report on Tuesday, April 9th. Mizuho assumed coverage on shares of FireEye in a research report on Tuesday, March 26th. They set a neutral rating and a $18.00 price objective for the company. BidaskClub downgraded shares of FireEye from a buy rating to a hold rating in a research report on Thursday, January 17th. Robert W. Baird reissued a buy rating and set a $23.00 price objective on shares of FireEye in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised shares of FireEye from a neutral rating to an overweight rating and set a $20.00 price objective for the company in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. FireEye has a consensus rating of Hold and a consensus target price of $19.45.

Shares of FEYE stock traded up $0.51 during trading hours on Wednesday, hitting $16.60. 5,285,868 shares of the company were exchanged, compared to its average volume of 3,788,201. The company has a quick ratio of 2.03, a current ratio of 2.04 and a debt-to-equity ratio of 1.48. FireEye has a 52 week low of $14.20 and a 52 week high of $20.61. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -23.06 and a beta of 0.92.

FireEye (NASDAQ:FEYE) last issued its quarterly earnings data on Tuesday, April 30th. The information security company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). FireEye had a negative return on equity of 20.57% and a negative net margin of 29.28%. The company had revenue of $210.54 million for the quarter, compared to the consensus estimate of $210.22 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that FireEye will post -0.51 EPS for the current year.

In related news, CFO Frank Verdecanna sold 55,775 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $16.71, for a total transaction of $932,000.25. Following the completion of the transaction, the chief financial officer now owns 501,644 shares in the company, valued at $8,382,471.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Travis M. Reese sold 101,617 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $16.71, for a total transaction of $1,698,020.07. Following the transaction, the president now owns 904,097 shares of the company’s stock, valued at approximately $15,107,460.87. The disclosure for this sale can be found here. Insiders have sold 208,255 shares of company stock valued at $3,479,941 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new stake in FireEye in the fourth quarter valued at $54,563,000. Patriot Wealth Management Inc. acquired a new stake in FireEye in the fourth quarter valued at $3,832,000. Berkeley Capital Partners LLC lifted its stake in FireEye by 20.8% in the first quarter. Berkeley Capital Partners LLC now owns 29,273 shares of the information security company’s stock valued at $491,000 after acquiring an additional 5,031 shares during the last quarter. Vanguard Group Inc. lifted its stake in FireEye by 3.7% in the third quarter. Vanguard Group Inc. now owns 16,137,591 shares of the information security company’s stock valued at $274,339,000 after acquiring an additional 579,676 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in FireEye in the fourth quarter valued at $137,000. Hedge funds and other institutional investors own 73.51% 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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