In a report issued on February 7, Kenneth Talanian from Evercore ISI maintained a Buy rating on FireEye Inc (FEYE), with a price target of $22. The company’s shares closed on Friday at $16.28.
Talanian wrote:
“We continue to believe that FEYE can sustainably grow billings double-digits annually (with consideration given to the impact of large deals). Revenue was just slightly ahead of prior expectations with strength in the professional services space but a continued headwind to product and related subscription and support with the continued mix-shift away from product. Non-GAAP margins at ~5.4% were within guidance (5- 7%) for the quarter with the year rounding out at ~3% (vs. guidance of 2-4%). Mgmt. is calling for guidance of 5-6% for F19 which may be conservative if the company maintains minimal headcount growth and continued cost control while expanding the topline. Looking forward we continue to believe that the company’s NX refresh will serve as a catalyst for customer conversations and a means to maintain >100% rate including up/cross-sells. Mgmt.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 18.3% and a 78.5% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.
FireEye Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.70, representing a 27.1% upside. In a report issued on February 7, Oppenheimer also maintained a Buy rating on the stock with a $22 price target.
See today’s analyst top recommended stocks >>
Based on FireEye Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $48.4 million. In comparison, last year the company had a GAAP net loss of $77.03 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
