FireEye, Inc. (FEYE) Updates Q4 Earnings Guidance
FireEye, Inc. (NASDAQ:FEYE) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ($0.03-0.00) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.01). The company issued revenue guidance of $190-196 million, compared to the consensus revenue estimate of $195.76 million.
FireEye (NASDAQ:FEYE) last released its quarterly earnings results on Tuesday, August 1st. The information security company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.13. FireEye had a negative return on equity of 26.21% and a negative net margin of 46.37%. The business had revenue of $185.50 million during the quarter, compared to analysts’ expectations of $176.39 million. During the same period in the previous year, the business posted ($0.33) earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year.
A number of research analysts recently issued reports on the company. Northland Securities set a $22.00 price target on FireEye and gave the company a buy rating in a report on Thursday, October 12th. Cowen and Company reiterated a hold rating and issued a $15.00 price objective on shares of FireEye in a research report on Thursday, October 12th. BMO Capital Markets reiterated a hold rating and issued a $17.00 price objective on shares of FireEye in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $23.00 price objective on shares of FireEye in a research report on Monday, September 18th. Finally, Standpoint Research lowered FireEye from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research report on Monday, September 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. FireEye has an average rating of Hold and a consensus target price of $17.13.
In other news, President Travis M. Reese sold 88,445 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.50, for a total transaction of $1,547,787.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexa King sold 25,000 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $18.00, for a total value of $450,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,884 shares of company stock worth $3,210,523. 2.40% of the stock is currently owned by insiders.
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An institutional investor recently raised its position in FireEye stock. The Manufacturers Life Insurance Company lifted its stake in shares of FireEye, Inc. (NASDAQ:FEYE) by 30.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,623 shares of the information security company’s stock after purchasing an additional 1,528 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in FireEye were worth $101,000 as of its most recent SEC filing. Institutional investors own 68.16% of the company’s stock.
FireEye Company Profile
FireEye, Inc provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series).
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