For the 2016 fiscal year, the company is maintaining its outlook for non-GAAP billings, revenue and operating cash flow, and is providing an updated outlook for non-GAAP operating margin, non-GAAP net loss per share, and capital expenditures.
Consistent with the guidance provided by the company on February 11, 2016, the company expects:
- Total revenue in the range of $815 to $845 million.
- Non-GAAP billings in the range of $975 to $1,055 million.
- Positive cash flow from operations in the range of $70 to $80 million.
With respect to non-GAAP operating margin, non-GAAP net loss per share and capital expenditures, the company now expects:
- Non-GAAP operating margin in the range of negative 21 to negative 23 percent of revenue, versus previous guidance of negative 22 to negative 24 percent of revenue.
- Non-GAAP net loss per share of $1.20 to $1.27, versus previous guidance of $1.25 to $1.32.
- Capital expenditures on property and equipment of approximately $35 million, versus previous guidance of approximately $50 million.
Non-GAAP net loss per share for 2016 assumes interest expense of $12.0 million associated with the company’s convertible senior notes, income taxes between $4.0 and $8.0 million, and shares outstanding of approximately 162 million.
Guidance for non-GAAP financial measures excludes stock based compensation, amortization of intangible assets, non-cash interest expense related to the company’s convertible senior notes, and other non-recurring expenses. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis as a result of the uncertainty regarding, and the potential variability of, the amounts of stock-based compensation expense, amortization of intangible assets, and other non-recurring expenses that may be incurred in the future. (Original Source)
Shares of FireEye closed yesterday at $18.69. FEYE has a 1-year high of $55.33 and a 1-year low of $11.35. The stock’s 50-day moving average is $14.81 and its 200-day moving average is $24.33.
On the ratings front, FireEye has been the subject of a number of recent research reports. In a report issued on March 3, Deutsche Bank analyst Karl Keirstead maintained a Hold rating on FEYE, with a price target of $15, which represents a potential downside of 19.7% from where the stock is currently trading. Separately, on February 12, Wedbush’s Steven Koenig reiterated a Hold rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Karl Keirstead and Steven Koenig have a total average return of -1.2% and -2.2% respectively. Keirstead has a success rate of 41.4% and is ranked #2724 out of 3698 analysts, while Koenig has a success rate of 41.9% and is ranked #2810.
Overall, 7 research analysts have assigned a Hold rating and 9 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $25.10 which is 34.3% above where the stock closed yesterday.
FireEye Inc provides cybersecurity solution for detecting, preventing and resolving cyber-attacks that evade legacy signature-based security products. Its solutions include traditional and next-generation firewalls, IPS, anti-virus, and gateways.