Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on FireEye Inc (FEYE) today and set a price target of $23. The company’s shares closed yesterday at $18.42.
Ruykhaver wrote:
“We maintain our Outperform rating, Fresh Pick designation and price target of $23. Aside from a weak 1Q19 guide due to a tough comp, we are distinctly encouraged by underlying results, FY19 guidance, and management commentary. In particular, we think a $3-$5 million bookings contribution from EOD (while in beta) and continued growth in Helix customers should excite long term investors. 2Q19 have to comp large YoY deals, we believe the long term bull case is intact and would be buyers on weakness.”
According to TipRanks.com, Ruykhaver is a top 100 analyst with an average return of 25.9% and a 81.5% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Proofpoint Inc, and Symantec Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for FireEye Inc with a $22 average price target.
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Based on FireEye Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.04 million. In comparison, last year the company had a GAAP net loss of $77.03 million.
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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.
