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News Breaks
April 30, 2014
06:00 EDTFEYEFireEye implied volatility of 91 at upper end of index mean range
News For FEYE From The Last 14 Days
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February 24, 2015
10:28 EDTFEYEAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
08:32 EDTFEYEFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
February 23, 2015
10:51 EDTFEYEStocks with call strike movement; FEYE AAL
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10:32 EDTFEYEFireEye falls, levels to watch
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10:15 EDTFEYECyberArk sinks after JPMorgan analyst cuts rating to sell
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February 20, 2015
09:08 EDTFEYEFireEye price target raised to $50 from $44 at UBS
UBS raised its price target on FireEye to $50 from $44 following meetings with management. The firm cited improved business trends, new partnerships and higher state and local government spending. UBS reiterated its Buy rating on FireEye shares.
February 17, 2015
07:50 EDTFEYEFireEye price target raised to $49 from $44 at BofA/Merrill
BofA/Merrill raised Buy rated FireEye's price target to $49 to reflect expected improvements in cash flow as investment in international infrastructure and M&A slows. The firm continues to view FireEye as a top pick given technological advantages, upside to billings and revenue growth, execution abilities, and strong sector trends.
February 15, 2015
17:43 EDTFEYECybersecurity firm Kaspersky warns of cyber attack on banks, FT says
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February 13, 2015
05:33 EDTFEYEFireEye price target raised to $42 from $32 at Imperial Capital
Imperial Capital raised its price target for FireEye shares to $42 citing the company's strong billings and subscription growth. It keeps an Outperform rating on the name following FireEye's Q4 results.
February 12, 2015
14:05 EDTFEYEFireEye rallies after Q4 results surpass analysts' estimates
Shares of cybersecurity firm FireEye are trading higher after reporting fourth quarter earnings and revenue that surpassed analysts' consensus estimates. WHAT'S NEW: FireEye reported a Q4 earnings per share loss of (38c) compared to estimates of (49c). FireEye reported Q4 revenue of $143M, beating analysts average estimates of $141.4M. Q4 billings were $212.6M, above the previously issued guidance range of $195M to $210M. FireEye's guidance for first quarter and fiscal year 2015 results were in-line with expectations. "In 2014, we brought together the industry's best technology, security expertise, and threat intelligence to protect organizations from advanced targeted attacks. We responded to nearly every high profile breach in the U.S., and we established strategic relationships with Global 2000 customers and partners around the world," said David DeWalt, CEO and chairman of FireEye. "Our growth over the last four quarters reflects the competitive differentiation of our security platform and incident response capabilities, as well as our sales execution and operational discipline. The market for our advanced security solutions continues to expand, and we believe we enter 2015 well positioned to extend our leadership and market share gains with innovative new solutions such as FireEye-as-a-Service and the FireEye Endpoint Threat Prevention Platform," added DeWalt. WHAT'S NOTABLE: FireEye, which has failed to turn a profit since making its market debut in 2013, is down from nearly $100 per share last year to trading near the $40 per share level currently. Shares of the cybersecurity firm rallied to nearly $100 per share early in 2014 after announcing the acquisition of privately held Mandiant, the leading provider of advanced endpoint security products. Insider sales and disappointing earnings in the ensuing quarters after the Mandiant acquisition sent shares precipitously lower during 2014. ANALYST REACTION: There were a number of positive reactions from analyst firms this morning, including those from JP Morgan, Goldman Sachs, and FBR Capital. Goldman said FireEye reported an in-line Q4 report with its estimates. The firm added that is believes FireEye has invested to build a broad platform and global sales footprint that positions it to capitalize on industry spending tailwinds and expects more improvements in margin growth. Goldman has shares Buy rated with a $44 price target, up from $41. PRICE ACTION: In early afternoon trading, FireEye was up $4.40, or 12%, to $40.05. OTHERS TO WATCH: Peers of Fire Eye include: Palo Alto Networks (PANW), Check Point Software Technologies (CHKP), Symantec Corporation (SYMC), and Fortinet (FTNT).
12:43 EDTFEYEOn The Fly: Midday Wrap
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12:39 EDTFEYEFireEye considered an 'emergency responder' in cyber threats, AP says
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11:01 EDTFEYEFireEye management to meet with UBS
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09:22 EDTFEYEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tripadvisor (TRIP), up 13.5%... Cisco Systems (CSCO), up 7.2%... FireEye (FEYE), up 7.7%... GNC (GNC), up 4.8%... NVIDIA (NVDA), up 5.5%... Whole Foods (WFM), up 2.5%. ALSO HIGHER: Orbitz Worldwide (OWW), up 21.6% after agreeing to be acquired by Expedia (EXPE). Expedia is up 11%... Ballard Power (BLDP), up 8.1% after being upgraded to Buy from Hold at Lake Street... Verastem (VSTM), up 4.7% after receiving orphan drug designation from FDA VS-5584 in mesothelioma. DOWN AFTER EARNINGS: Zulily (ZU), down 25.4%... Cabelas (CAB), down 9%... Cheesecake Factory (CAKE), down 5.9%.... Baidu (BIDU), down 4.8%... NetApp (NTAP), down 6.5%... Avon Products (AVP), down 3.6%... Tesla (TSLA), down 8.9%... Kellogg (K), down 5.1%... Amber Road (AMBR), down 16%. ALSO LOWER: Achillion Pharmaceuticals (ACHN), down 4.5% after 12M share Secondary priced at $10.25.
07:25 EDTFEYEFireEye price target raised to $45 from $37 at FBR Capital
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06:34 EDTFEYEFireEye well positioned to capitalize on industry tailwinds, says Goldman
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05:59 EDTFEYEFireEye results to be catalyst for shares, says JPMorgan
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