FireEye Inc (NASDAQ:FEYE), the leader in stopping today’s advanced cyber attacks and Parsons, a technology-driven engineering services firm with expertise in infrastructure, defense, intelligence, and cybersecurity, announced a strategic partnership to provide customers with enhanced protection for their critical infrastructure and IT environments through advanced technologies and services aimed at reducing risk and strengthening security.
Critical infrastructure providers are uniquely vulnerable to cyber attacks, given the required connectivity between the physical and the cyber worlds. The same technologies that offer improved visibility and control over the operation create desirable cyber targets for attackers looking to steal information and intellectual property, disrupt services, and damage equipment.
With more than 70 years of experience designing, building, and sustaining elements of critical infrastructure, Parsons has a unique perspective on the cybersecurity challenges faced by both government and commercial organizations today. FireEye pioneered a new approach to detecting advanced attacks and, combined with its Mandiant services team, provides the technology, intelligence, and expertise to protect against cyber attacks from sophisticated adversaries specifically targeting critical infrastructure and to prevent their ability to successfully execute a cyber attack.
This collaboration will bring together Parsons’ deep experience with comprehensive security solutions for critical infrastructure with FireEye technology, threat intelligence, and a full array of customized Mandiant services to counteract the rapidly growing cyber threats faced by customers managing critical infrastructure.
“We at Parsons are excited to announce our strategic partnership with FireEye,” said Chuck Harrington, Parsons’ Chairman and CEO. “For 30 years we have worked behind the scenes to deliver cybersecurity services to protect our nation’s most sensitive information and critical infrastructure. We are partnering with FireEye to build on that foundation. Together, we are committed to developing best-of-breed solutions to address the evolving cyber threat faced by energy producers, transportation infrastructure entities, telecommunications companies, and government agencies.”
“Critical infrastructure providers are targeted by nation-state groups looking to improve their domestic infrastructure, cyber criminals trying to monetize customers’ data, and non-state actors working to create disruption to support a cause,” said David DeWalt, FireEye Chairman of the Board and CEO. “FireEye and Parsons are coming together to provide the best security solutions available today, from the physical world to the cyber domain, and help protect critical infrastructure providers from this diverse set of adversaries.” (Original Source)
Shares of FireEye closed last Friday at $18.32, down $0.69 or -3.63%. FEYE has a 1-year high of $55.33 and a 1-year low of $18.28. The stock’s 50-day moving average is $21.49 and its 200-day moving average is $33.38.
On the ratings front, FireEye has been the subject of a number of recent research reports. In a report issued on January 4, Summit Research analyst Srini Nandury initiated coverage with a Buy rating on FEYE and a price target of $35, which represents a potential upside of 91.0% from where the stock is currently trading. Separately, on December 15, Evercore ISI’s Kenneth Talanian initiated coverage with a Buy rating on the stock and has a price target of $39.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Srini Nandury and Kenneth Talanian have a total average return of -15.2% and 0.3% respectively. Nandury has a success rate of 26.2% and is ranked #3460 out of 3610 analysts, while Talanian has a success rate of 50.0% and is ranked #2111.
Overall, 8 research analysts have assigned a Hold rating and 8 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 $39.67 which is 116.5% above where the stock closed last Friday.
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.