Wedbush Reiterates Positive Rating for FireEye (FEYE)

FireEye (NASDAQ:FEYE)‘s stock had its “positive” rating reiterated by research analysts at Wedbush in a research note issued on Friday. They presently have a $14.12 target price on the information security company’s stock, down from their previous target price of $16.00. Wedbush’s target price would suggest a potential downside of 8.55% from the company’s previous close.

A number of other research firms have also recently issued reports on FEYE. Cowen reissued a “hold” rating and set a $15.00 price objective on shares of FireEye in a research report on Thursday, October 12th. Northland Securities set a $22.00 price objective on shares of FireEye and gave the stock a “buy” rating in a research report on Thursday, October 12th. Evercore ISI set a $20.00 price objective on shares of FireEye and gave the stock a “buy” rating in a research report on Sunday, October 15th. Oppenheimer cut their price objective on shares of FireEye from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Finally, BMO Capital Markets cut their price objective on shares of FireEye from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.09.

Shares of FireEye (NASDAQ:FEYE) opened at $15.44 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.00. FireEye has a 1-year low of $10.35 and a 1-year high of $18.00.

FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Thursday, February 8th. The information security company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. FireEye had a negative return on equity of 24.59% and a negative net margin of 40.43%. The firm had revenue of $202.30 million during the quarter, compared to the consensus estimate of $193.74 million. During the same period last year, the business posted ($0.03) EPS. The business’s revenue was up 9.5% compared to the same quarter last year. analysts anticipate that FireEye will post -0.86 earnings per share for the current fiscal year.

In related news, Director Ronald E. F. Codd sold 6,767 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $13.57, for a total value of $91,828.19. Following the transaction, the director now owns 7,099 shares of the company’s stock, valued at approximately $96,333.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in FireEye by 30.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock valued at $101,000 after acquiring an additional 1,528 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in FireEye by 96.9% in the 4th quarter. Resources Investment Advisors Inc. now owns 7,330 shares of the information security company’s stock valued at $104,000 after acquiring an additional 3,607 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in FireEye in the 3rd quarter valued at about $129,000. State of Alaska Department of Revenue bought a new position in FireEye in the 4th quarter valued at about $146,000. Finally, Exane Derivatives bought a new position in FireEye in the 3rd quarter valued at about $168,000. 68.18% of the stock is currently owned by institutional investors and hedge funds.

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About FireEye

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).

Analyst Recommendations for FireEye (NASDAQ:FEYE)

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