Company Update (NASDAQ:FEYE): FireEye Inc and NATO Announce Cyber Information Sharing Agreement


FireEye Inc (NASDAQ:FEYE) announced an Industry Partnership Agreement (IPA) for cyber security information sharing, which is another progressive step forward in strengthening NATO networks and systems and FireEye iSIGHT Intelligence.

The agreement will foster timely information sharing on cyber threats discovered by FireEye and NATO, allowing both parties to enhance situational awareness and better protect their networks and customers. In practice, the IPA will facilitate the rapid and early bilateral exchange of non-classified technical information related to cyber threats and vulnerabilities. In addition, for NATO, FireEye iSIGHT Intelligence will be integrated into NCI Agency 24/7 detection and prevention processes, thereby enhancing further NATO’s cyber security posture.

FireEye iSIGHT Intelligence combines high-fidelity machine, victim, and adversary intelligence that enables proactive security-based practices. NATO will have access to a set of FireEye iSIGHT Intelligence technical indicators, or IoC’s (Indicators of Compromise), that will enhance existing systems and speed up responses to potential security threats. To ensure the privacy of FireEye and NATO data, only generic, non-attributable data will be shared between the two organizations.

“If we are going to move faster than the cyber threats we face, then it is absolutely imperative that we exchange timely and actionable threat information with industry,” said Maj. Gen. (ret) Koen Gijsbers, General Manager of the NCI Agency. “Our existing IPAs have already shown impressive results that are making a real difference to NCI Agency and our industry partners. FireEye’s depth of expertise from responding to many of the largest cyber breaches in the world will be very valuable to the IPA framework, and we look forward to a productive partnership.”

“Public and private sector organizations face the same challenges of managing a large number of low-fidelity data and alerts from traditional security offerings like next generation firewalls, endpoint, and intrusion prevention systems — masking real threats and slowing responses to threats,” said Tony Cole, VP and global government CTO, FireEye. “In forming an information sharing partnership with NATO, we gain additional data for FireEye iSIGHT Intelligence that will further protect our customers, and at the same time, FireEye will help provide critical intelligence that will help enable better threat detection, greater visibility to potential cyber-threats and faster responses to such potential cyber-threats to the NATO’s networks and systems.” (Original Source)

Shares of FireEye Inc are currently rising 0.91% to $13.30, or up $0.12 in pre-market trading Friday. FEYE has a 1-year high of $22.48 and a 1-year low of $10.87. The stock’s 50-day moving average is $13.06 and its 200-day moving average is $14.65.

On the ratings front, FireEye Inc (NASDAQ: FEYE) has been the subject of a number of recent research reports. In a report issued on December 6, D.A. Davidson analyst Jack Andrews maintained a Buy rating on FEYE, with a price target of $22, which represents a potential upside of 67% from where the stock is currently trading. Separately, on November 30, Oppenheimer’s Shaul Eyal reiterated a Buy rating on the stock and has a price target of $28.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jack Andrews and Shaul Eyal have a yearly average loss of -6.7% and a return of 9.1% respectively. Andrews has a success rate of 32% and is ranked #3912 out of 4279 analysts, while Eyal has a success rate of 57% and is ranked #136.

Sentiment on the street is mostly neutral on FEYE stock. Out of 19 analysts who cover the stock, 13 suggest a Hold rating , 4 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $16.75, which implies an upside of 27% from current levels.

FireEye, Inc. develops virtual machine-based security platform that provides real-time protection to enterprises and governments worldwide against the next generation of cyber attacks. The FireEye Threat Prevention Platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors, including Web, email, and files and across the different stages of an attack life cycle. Its virtual machine-based security platform is a virtual execution engine, complemented by dynamic threat intelligence, to identify and block cyber attacks in real time.