FireEye (FEYE) Price Target Raised to $22.00 at Piper Jaffray Companies

FireEye (NASDAQ:FEYE) had its price target boosted by research analysts at Piper Jaffray Companies to $22.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the information security company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 17.96% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of FireEye from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, August 8th. Evercore ISI reissued a “buy” rating and set a $22.00 price target on shares of FireEye in a research report on Thursday, August 23rd. Goldman Sachs Group set a $22.00 price target on shares of FireEye and gave the company a “buy” rating in a research report on Thursday, October 4th. BidaskClub raised shares of FireEye from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, ValuEngine raised shares of FireEye from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. FireEye presently has a consensus rating of “Buy” and a consensus target price of $19.72.

Shares of FEYE stock traded up $1.80 on Wednesday, hitting $18.65. 7,244,086 shares of the company’s stock traded hands, compared to its average volume of 5,592,224. The firm has a market cap of $3.31 billion, a P/E ratio of -17.11 and a beta of 0.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.02 and a current ratio of 2.03. FireEye has a one year low of $13.40 and a one year high of $19.36.

FireEye (NASDAQ:FEYE) last announced its quarterly earnings results on Tuesday, October 30th. The information security company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The business had revenue of $211.65 million during the quarter, compared to analysts’ expectations of $208.46 million. FireEye had a negative net margin of 37.13% and a negative return on equity of 25.26%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) EPS. As a group, analysts forecast that FireEye will post -0.79 EPS for the current year.

In other news, President Travis M. Reese sold 3,201 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $14.46, for a total value of $46,286.46. Following the completion of the sale, the president now directly owns 715,060 shares of the company’s stock, valued at approximately $10,339,767.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William T. Robbins sold 1,409 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $18.01, for a total transaction of $25,376.09. Following the completion of the sale, the executive vice president now directly owns 324,444 shares of the company’s stock, valued at $5,843,236.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,820 shares of company stock valued at $931,071. Corporate insiders own 2.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of FireEye by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,190,466 shares of the information security company’s stock worth $33,711,000 after acquiring an additional 368,666 shares in the last quarter. Natixis increased its stake in shares of FireEye by 39.9% in the 2nd quarter. Natixis now owns 164,058 shares of the information security company’s stock worth $2,525,000 after acquiring an additional 46,768 shares in the last quarter. Millennium Management LLC increased its stake in shares of FireEye by 125.8% in the 2nd quarter. Millennium Management LLC now owns 1,509,436 shares of the information security company’s stock worth $23,230,000 after acquiring an additional 841,080 shares in the last quarter. P.A.W. Capital Corp increased its stake in shares of FireEye by 19.0% in the 2nd quarter. P.A.W. Capital Corp now owns 250,000 shares of the information security company’s stock worth $3,848,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of FireEye by 11.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 614,122 shares of the information security company’s stock worth $9,452,000 after acquiring an additional 61,235 shares in the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.

FireEye Company Profile

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions.

Further Reading: What is a Leveraged Buyout (LBO)?

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