FBR Capital analyst Daniel Ives weighed in today with a few insights on FireEye Inc (NASDAQ:FEYE) after attending the company’s Analyst Day yesterday, where market opportunities, new partnerships, and long-term financial targets were discussed. The analyst maintained an Outperform rating on the stock, and did not provide a price target.

Ives wrote, “The company’s announced partnership with Visa which includes an advanced web-based security solution, was front and center as we believe it represents a move that further validates FireEye’s robust offerings and opens the door for potentially more partnerships over time. Coming off solid momentum from another strong quarter (March), we believe FireEye is benefiting from an increasing number of high-profile breaches, large deal sizes, and solid cross-sell/upsell opportunities with enterprises across the globe, while the company expands its product/geographic footprint, which will continue to add tailwinds, in our opinion, over the coming quarters/years.”

Furthermore, “Management also provided investors with the company’s longer-term operating target model, with a $2 billion-plus billings number (which compares to $591 million in FY14) in 2019 as the ongoing shift toward ratable solutions, larger deal sizes, and customer growth/penetration are poised to add more jet fuel to FireEye’s growth engine, in our view.”

Bottom line, “We walk away from the analyst day incrementally positive around FireEye’s opportunities in the next-generation cybersecurity landscape with DeWalt & company paving a clear path for growth/profitability given its strong market position, and the firewall refresh cycle that we believe is still in the very early innings of playing out.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Ives has a total average return of 10.1% and a 67.5% success rate. Ives has a 1.2% average return when recommending FEYE, and is ranked #347 out of 3610 analysts.

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