Zacks Investment Research upgraded shares of FireEye (NASDAQ:FEYE) from a hold rating to a buy rating in a research report released on Friday morning. They currently have $19.00 price objective on the information security company’s stock.

According to Zacks, “FireEye is benefiting from its diversified product portfolio and increasing clientele. The company’s shifting of the business model to a subscription-based one, are apparently paying off. FireEye is gaining customer accounts and increasing penetration of existing customers, which is driving revenue growth. Strong adoption of Helix platform is a key driver. Management notes that the shift toward virtual, cloud and hybrid from appliance-based products is improving the mix of recurring subscriptions and support, which will aid the company’s long-term growth. Estimates have been stable ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. However, shorter-length contracts remain a concern, which, despite generating higher margins compared with three-year contracts, adversely impact near-term top-line growth. Shares have underperformed the industry in the past one year.”

Several other brokerages also recently commented on FEYE. Morgan Stanley downgraded shares of FireEye from an overweight rating to an equal weight rating and set a $21.00 price objective for the company. in a research report on Thursday, December 13th. Piper Jaffray Companies boosted their price objective on shares of FireEye to $22.00 and gave the company an overweight rating in a research report on Wednesday, October 31st. BMO Capital Markets boosted their price objective on shares of FireEye from $17.00 to $18.00 and gave the company a market perform rating in a research report on Wednesday, October 31st. Deutsche Bank boosted their price objective on shares of FireEye from $18.00 to $20.00 and gave the company a hold rating in a research report on Wednesday, October 31st. Finally, Citigroup upped their price target on shares of FireEye from $17.00 to $18.00 and gave the stock a neutral rating in a report on Wednesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $20.13.

FEYE traded down $0.13 during trading on Friday, hitting $16.78. 3,894,935 shares of the stock traded hands, compared to its average volume of 4,023,550. FireEye has a twelve month low of $13.60 and a twelve month high of $20.61. The company has a market cap of $3.31 billion, a P/E ratio of -15.39 and a beta of 0.51. 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 data on Tuesday, October 30th. The information security company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. FireEye had a negative net margin of 33.32% and a negative return on equity of 22.98%. The business had revenue of $211.65 million during the quarter, compared to the consensus estimate of $208.46 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that FireEye will post -0.71 earnings per share for the current fiscal year.

In related news, EVP Alexa King sold 4,828 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $20.00, for a total value of $96,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William T. Robbins sold 33,591 shares of the stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $18.00, for a total value of $604,638.00. Following the completion of the sale, the executive vice president now owns 325,853 shares of the company’s stock, valued at $5,865,354. The disclosure for this sale can be found here. Insiders have sold 99,643 shares of company stock valued at $1,862,222 over the last quarter. Company insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. bought a new stake in FireEye during the third quarter valued at $114,000. TRUE Private Wealth Advisors bought a new stake in FireEye during the third quarter valued at $122,000. Global X Management Co LLC bought a new stake in FireEye during the second quarter valued at $131,000. Centaurus Financial Inc. bought a new stake in FireEye during the second quarter valued at $160,000. Finally, Skylands Capital LLC bought a new stake in FireEye during the third quarter valued at $170,000. Institutional investors and hedge funds own 73.93% of the company’s stock.

About FireEye

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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