FireEye Inc (NASDAQ:FEYE), the leader in stopping today’s advanced cyber attacks, today announced an agreement with Ingram Micro (NYSE:IM) to market, sell and support FireEye security products throughout the United States and Canada. The new alliance makes FireEye comprehensive advanced threat protection across the network, email and endpoint available to Ingram Micro channel partners in the U.S. and Canada to update customers’ legacy security infrastructure and protect against modern threats.
“Customers are turning to channel partners to update security solutions and provide guidance on how to protect against threats on the endpoint and coming through email,” said Steve Pataky, vice president of worldwide channels and alliances at FireEye. “Together with Ingram Micro, we can provide channel partners the ability to deliver advanced endpoint and email protection that goes beyond traditional solutions — and, with the FireEye security platform, gain visibility across the organization to identify and remediate threats. For channel partners, this visibility is key in providing solutions that keep their customer networks secure.”
The alliance brings the new FireEye® HX™ Endpoint 3.0 product to more channel partners and businesses throughout the U.S. and Canada. The latest version of FireEye HX extends FireEye Threat Intelligence to the endpoint and adds enterprise search capabilities that enable quick and precise security searches across endpoints. For organizations, this enables unparalleled visibility to rapidly find and mitigate threats by utilizing superior visibility into their endpoints along with insight gathered from cloud and real-time feeds.
“FireEye enables channel partners to better protect their customers by offering the right blend of technology, intelligence and expertise,” said Eric Kohl, executive director, Ingram Micro Advanced Solutions. “Our channel partners trust us to offer the best technology products, solutions and services.FireEye’s advanced security offerings expand our best in class portfolio and help channel partners protect their customers from today’s cyber threats.”
As part of the new Ingram Micro relationship, FireEye will become a 2016 sponsor of the Trust X Alliance — the IT channel’s premier community for top-performing vendors, service providers and VARs. The IT security innovator will work closely with the Trust X Alliance to educate and train its members on the importance of endpoint security and how to proactively protect customers from cyber threats.
“IT security is top of mind for businesses and their trusted IT advisors,” said Tim Ament, senior vice president, Ingram Micro. “We’ve made it a priority to bring best in class security technologies to our channel partners from emerging and established vendor partners. FireEye is a channel-friendly vendor, IT security innovator and a great addition to our growing portfolio.” (Original Source)
Shares of FireEye Inc closed last Friday at $21.05, down $1.31 or -5.86%. FEYE has a 1-year high of $55.33 and a 1-year low of $19.76. The stock’s 50-day moving average is $23.69 and its 200-day moving average is $37.49.
On the ratings front, FireEye has been the subject of a number of recent research reports. In a report issued on December 8, Citigroup analyst Walter Pritchard upgraded FEYE to Buy, with a price target of $35, which implies an upside of 66.3% from current levels. Separately, on November 11, Deutsche Bank’s Karl Keirstead maintained a Hold rating on the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Walter Pritchard and Karl Keirstead have a total average return of 12.5% and 4.5% respectively. Pritchard has a success rate of 65.5% and is ranked #192 out of 3618 analysts, while Keirstead has a success rate of 53.7% and is ranked #615.
Overall, 11 research analysts have assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $34.43 which is 63.6% above where the stock closed last Friday.
FireEye Inc provides cybersecurity solution for detecting, preventing and resolving cyber-attacks that evade legacy signature-based security products. Its solutions include traditional and next-generation firewalls, IPS, anti-virus, and gateways.