Wall Street analysts’ views on FireEye stock
So far in this series, we’ve discussed FireEye’s (FEYE) 3Q16 results as well as the factors pushing the cybersecurity space. We also discussed the factors that have hammered FireEye stock.
FireEye, Symantec (SYMC), Palo Alto Networks (PANW), Barracuda (CUDA), and Fortinet (FTNT) are prominent players in the cybersecurity space. Cisco Systems (CSCO) dominates the security appliance market. Let’s take a look at select market-centric views and metrics for FireEye.
Of the 30 analyst recommendations for FireEye (FEYE) stock, there are two “sell” recommendations. As we can see in the chart above, more than 60% of analysts recommended a “hold” for FireEye stock and the remainder offered “buy” recommendations. Some analysts’ recommendations for FireEye have changed to a “hold” in the last couple of months.
Earlier in this series, we highlighted the factors and FireEye’s initiatives that give investors some assurance that the company is moving in the right direction with respect to growth, as well as the technical areas we feel it should focus on.
FireEye’s price performance
The price movement for FireEye stock has been mixed. In the past month, FEYE stock rose ~12.1%. However, in the last year, its stock lost close to 45% of its value.
Analysts’ target prices
Analysts’ consensus target price for FireEye was $16.89 per share on November 29, 2016. On that day, the median target price was $16.00, and the closing price was $12.92.
Earlier in this series, we discussed the factors that Goldman Sachs (GS) considered while downgrading FireEye stock from “neutral” to “sell.” It also reduced its target price from $15.00 to $11.00.
Investors who wish to gain exposure to the cybersecurity space can consider investing in the PureFunds ISE Cyber Security ETF (HACK). HACK has a portfolio of 32 stocks and invests ~5% of its holdings in FireEye.