FireEye Inc (NASDAQ:FEYE), the leader in stopping today’s advanced cyber attacks, today announced that a new report from Frost & Sullivan recognizes FireEye as the leading vendor in the network security sandbox market. A half billion market in 2014, the network security sandbox segment is expected to grow to $3.5 billion by 2019, with an average compound annual growth rate (CAGR) of 45.6 percent from 2014-19.
The report, Network Security Sandbox Market Analysis: APTs Create a “Must Have” Security Technology, examines the rapidly growing market for network security sandbox technologies in response to the rise of advanced attack. Network security sandbox technologies, which execute and analyze suspicious software in a controlled environment, use sophisticated algorithms to detect and validate previously unseen attacks missed by signature-based detection technologies.
“The network security sandbox segment is dominated by FireEye, which commands almost two-thirds of 2014 market revenue,” said Frank Dickson, research director with Frost & Sullivan. “A combination of network security sandbox features and large market share puts FireEye in the position of clear leadership. FireEye continues to capitalize on its first-mover advantage.”
“Advanced attackers are transforming the threat landscape,” said Manish Gupta, senior vice of products at FireEye. “This Frost & Sullivan report recognizes that advanced threats are the ‘new normal,’ and organizations of all sizes and in all industries must realign their security budgets to protect their intellectual property and data. FireEye network, endpoint and cloud-based security products, powered by our MVX virtual machine detection engine, help customers build attack-resilient networks. When combined with our FireEye-as-a-Service and advanced threat intelligence offerings,FireEye products reduce the time from security alert to remediation and mitigate the risks of an attack.” (Original Source)
Shares of FireEye Inc closed yesterday at $43.45. FEYE has a 1-year high of $55.33 and a 1-year low of $24.81. The stock’s 50-day moving average is $48.71 and its 200-day moving average is $43.71.
On the ratings front, FireEye has been the subject of a number of recent research reports. In a report issued on July 31, Gabelli & Co analyst Hendi Susanto downgraded FEYE to Sell. Separately, on the same day, Citigroup’s Walter Pritchard maintained a Hold rating on the stock and has a price target of $53.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Hendi Susanto and Walter Pritchard have a total average return of 0.8% and 13.6% respectively. Susanto has a success rate of 51.7% and is ranked #2235 out of 3724 analysts, while Pritchard has a success rate of 67.9% and is ranked #295.
The street is mostly Neutral on FEYE stock. Out of 13 analysts who cover the stock, 7 suggest a Hold rating and 6 recommend to Buy the stock. The 12-month average price target assigned to the stock is $45.67, which implies an upside of 5.1% from current levels.
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.