Wall Street analysts’ views on FireEye
In this series, we’ve looked at FireEye’s (FEYE) 1Q17 earnings and improved guidance for fiscal 2017, as well as their impact on FEYE stock.
FireEye, Symantec (SYMC), Palo Alto Networks (PANW), Barracuda Networks (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 stock, there were no “sell” recommendations. As shown in the graph above, more than half of the analyst recommendations for FireEye stock were for a “hold.” The remainder were “buy” recommendations.
FireEye’s price performance
FireEye’s stock price movement during the past month has been positive. On May 9, 2017, FireEye (FEYE) stock rose ~15.5%. However, in the last year, the stock has fallen ~17.4%. Earlier in the series, we highlighted the factors that impacted FireEye stock in 2016.
Analysts’ target prices
The Wall Street analyst consensus target price for FireEye was $14.50 per share on May 9, 2017. On that day, the median target price was $15.20, and the closing price was $14.54.
Goldman Sachs (GS) upgraded FireEye stock to a “buy” rating from the previous “sell” rating with a price target of $15.00, as we discussed earlier in the series. Bank of America upgraded FEYE to a “buy” from the previous “neutral” rating.
A smaller-than-expected loss and improved guidance led many research firms to upgrade their ratings on FireEye stock. After the announcement of its 1Q17 earnings, FireEye stock rose ~13%.