Industry analysts are positive about FireEye’s prospects
Let’s see how other industry analysts view FireEye’s prospects. While Oppenheimer reiterated its “outperform” rating on FireEye stock, it lowered its price target to $22.00 from $23.00.
Shaul Eyal, an analyst with Oppenheimer, noted, “FEYE’s unattached subscriptions (Cloud HX, Helix, iSIGHT, FaaS) continued to perform well, and now aggregately represent a growing majority of the company’s subscription revenues.
“We believe FEYE is executing well with its renewed product portfolio, though its product segment remains a burden to growth predictability. Lowering PT to $22 from $23.”
Eyal believes in the execution of the company’s renewed offering portfolio. However, the product segment is hampering its growth predictability. In 3Q17, FireEye’s product segment revenues fell 30.0% to $30.5 million.
Daniel Ives, an Insights analyst with GBH, noted, “It’s been a bumpy road for FireEye over the past few years but it appears they are directionally heading in the right direction even though the bulls were hoping for more around the company’s outlook.”
Analysts’ ratings on FireEye stock
Dougherty & Company has upgraded its rating on FireEye stock from “neutral” to “buy” with a price target of $18.00 per share. Market sentiment around FireEye stock is more of a cautious nature but is not negative.