Oppenheimer Maintains Perform On FireEye On The Back Of 3Q14 Earnings


Oppenheimer analyst Shaul Eyal maintained a Perform rating on FireEye Inc (NASDAQ:FEYE), as the company reported strong 3Q billings growth exceeding the consensus estimate ($165M vs. $154M(E)), but revenue coming at the lower range of guidance ($114M vs. $116M) could be plaguing the shares near-term. No price target was provided.

Eyal wrote, “FEYE reported strong 3Q billings growth (up 45% YoY) exceeding the consensus estimate ($165M vs. $154M(E)), but revenue coming at the lower range of guidance ($114M vs. $116M) could be plaguing the shares near-term. Macro-wise, demand trends remain resilient for FEYE’s APT solutions. Micro-wise, an ongoing model shift (more subscription services slightly more ratable) is behind the slight tweak to 4Q revenue outlook. Operationally, we continue to detect a slow and gradual improvement and we are awaiting further scalability. Our view is incrementally more positive given the encouraging billing picture. Maintain Perform on NT revenue hiccup and slow scalability.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Shaul Eyal has a total average return of 8.9% and a 74.3% success rate. Eyal is ranked #316 out of 3363 analysts.

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