Evercore ISI Believes FireEye Inc (NASDAQ: FEYE) Won’t Stop Here


In a report released today, Kenneth Talanian from Evercore ISI maintained a Buy rating on FireEye Inc (NASDAQ: FEYE), with a price target of $22. The company’s shares closed yesterday at $18.55, close to its 52-week high of $19.36.

Talanian commented:

“We believe 1Q results and 2Q billings guidance suggest better linearity than witnessed in 2017, which we believe de-risks 2H18 should execution remain strong. Further, we believe the company’s growth suggests it remains on track with the long-term targets outlined at the recent analyst day (see our note). We view this quarter as further proof that the company has made sufficient changes to its pricing and go-to-market strategy to drive growth. We believe the company’s NX refresh opportunity remains substantial throughout the remainder of the year and expect that the company should continue to realize a >100% renewal rate including up/ cross-sells (inclusive of further penetration within G2000 customers). We expect 2018 growth to be driven by the NX refresh, traction with endpoint, and growth in managed services and email (in that order). Our thesis on FEYE remains materially the same, with this quarter’s results and guidance as further proof of the company’s ability to execute.”

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 15.9% and a 81.9% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Presidio Inc, and Check Point.

FireEye Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.11.

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The company has a one-year high of $19.36 and a one-year low of $13.40. Currently, FireEye Inc has an average volume of 4.23M.

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FireEye, Inc. is an intelligence-led security company, which engages in the intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber attacks. It operates through the following geographical segments: United States; EMEA; APAC; and Other.

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