Helix unanimously approved by industry analysts
In the preceding parts of this series, we discuss the factors that have weighed on FireEye (FEYE) stock as well as the potential factors that could give the stock a boost. We also discussed how the company’s recent acquisition of X15 Software could complement its security offerings—especially its Helix platform. Below, we’ll assess the opinions that industry analysts have of FireEye ahead of the company’s fiscal 4Q17 earnings.
The increased adoption of FireEye’s Helix appears to be generating positive sentiment toward the company’s the stock. Helix is an intelligence-driven platform that simplifies, mechanizes, and integrates security operations, regardless of the organization’s size or industry. The presentation below, which summarizes the data of a customer survey done by Morgan Stanley (MS) for FireEye’s offerings, suggests that Helix is expected to be the company’s most popular offering over the next three to five years.
Wall Street analysts’ views of FireEye’s stock
In early 2017, the Helix launch triggered Goldman Sachs (GS) to upgrade FireEye stock to a “buy,” as the research firm felt that the new offering would boost the company’s prospects in the cybersecurity space.
Now, of the 29 analyst recommendations for FireEye stock, 38% issued a “buy” recommendation on January 29, 2018, while 59% issued a “hold.” There was only one “sell” recommendation.
If we analyze these recommendations, we can assume that the overall sentiment toward FireEye stock is still on the cautious side, though the view isn’t negative.
The median target price set by analysts for FireEye stock was $17.09 on January 29, 2018. By comparison, Microsoft’s closing price was $15.10 on the same day.
In the next part of this series, we’ll take a close look at FireEye’s technical indicators in an effort to read where the stock could go next.