FireEye (FEYE) Price Target Increased to $18.00 by Analysts at Citigroup

FireEye (NASDAQ:FEYE) had its target price raised by Citigroup from $17.00 to $18.00 in a research report sent to investors on Wednesday. Citigroup currently has a neutral rating on the information security company’s stock.

Several other research analysts have also recently issued reports on the stock. ValuEngine cut shares of FireEye from a hold rating to a sell rating in a report on Tuesday, July 24th. BidaskClub raised shares of FireEye from a sell rating to a hold rating in a report on Saturday, September 15th. Piper Jaffray Companies raised shares of FireEye from a neutral rating to an overweight rating and set a $24.00 target price for the company in a report on Monday, July 9th. Evercore ISI restated a buy rating and set a $22.00 price target on shares of FireEye in a research report on Thursday, August 23rd. Finally, Robert W. Baird initiated coverage on shares of FireEye in a research report on Wednesday, October 17th. They set an outperform rating and a $22.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $20.00.

Shares of FireEye stock opened at $18.67 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 1.42. FireEye has a 1 year low of $13.40 and a 1 year high of $19.56.

FireEye (NASDAQ:FEYE) last issued its earnings results on Tuesday, October 30th. The information security company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. FireEye had a negative net margin of 33.32% and a negative return on equity of 22.77%. The firm had revenue of $211.65 million during the quarter, compared to analysts’ expectations of $208.46 million. During the same quarter last year, the company posted ($0.04) earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that FireEye will post -0.71 EPS for the current fiscal year.

In related news, EVP William T. Robbins sold 6,400 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total transaction of $92,544.00. Following the sale, the executive vice president now owns 359,444 shares in the company, valued at $5,197,560.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Frank Verdecanna sold 11,219 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total transaction of $162,226.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,820 shares of company stock worth $1,883,571. 2.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its position in shares of FireEye by 0.9% in the second quarter. Creative Planning now owns 348,391 shares of the information security company’s stock valued at $5,362,000 after purchasing an additional 3,148 shares during the period. Essex Investment Management Co. LLC grew its position in shares of FireEye by 17.1% in the second quarter. Essex Investment Management Co. LLC now owns 21,859 shares of the information security company’s stock valued at $336,000 after purchasing an additional 3,192 shares during the period. United Services Automobile Association grew its position in shares of FireEye by 12.5% in the second quarter. United Services Automobile Association now owns 29,722 shares of the information security company’s stock valued at $457,000 after purchasing an additional 3,309 shares during the period. Voya Investment Management LLC grew its position in shares of FireEye by 9.8% in the second quarter. Voya Investment Management LLC now owns 52,688 shares of the information security company’s stock valued at $811,000 after purchasing an additional 4,721 shares during the period. Finally, Bank of Montreal Can grew its position in shares of FireEye by 0.8% in the third quarter. Bank of Montreal Can now owns 609,428 shares of the information security company’s stock valued at $10,359,000 after purchasing an additional 4,751 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.

About FireEye

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: Average Daily Trade Volume – ADTV

Analyst Recommendations for FireEye (NASDAQ:FEYE)

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