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Stock Update: FireEye Inc (NASDAQ:FEYE) - Announces Network Protection For Apple Products

Stock Update: FireEye Inc (NASDAQ:FEYE) - Announces Network Protection For Apple Products
Written by
Alex Carlson
Published on
October 8, 2014
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[MARKETWIRED] FireEye Inc (NASDAQ:FEYE), the leader in stopping today's advanced cyber attacks, today announced targeted attack protection for products built on the Apple platform. FireEye will support Apple's Mac OS X operating system for network protection, iOS for mobile protection to detect known and unknown attacks, and enable analytics with forensic analysis for Apple products. Read the full story here.Stock PerformanceTaking a look at the company’s recent performance, FireEye Inc (FEYE) reported second quarter earnings for fiscal 2014 on August 8th. The company reported actual earnings per share of $0.55 against the consensus Street estimate of $0.60. FireEye posted revenue of $94.50 million against estimates of $90.12 million. FireEye is currently valued at $4.23 billion and closed the last trading session at $28.06.

Is this a Buying Opportunity?There are currently twenty three analysts that we track that cover the stock. Of those twenty three, fourteen have a Buy rating and nine have a hold rating. On a consensus basis this yields a score of 2.61 and a Buy. The combined price objective of these covering analysts is $52.25. The most recent analyst activity consisted of Piper Jaffray reiterating their Overweight stance on the company. Piper Jaffray has a price target of $40 which represents an upside of 31.14% from the last closing price. On the date of the report, the stock closed at $33.95.Another research firm weighing in recently was Topeka Capital Markets who also reiterated their rating on the stock. On August 13thTopeka Capital Markets lowered their price target on the stock from $70 to $45, or a 47% upside to the current price. On the day of the report, FEYE shares closed at $31.85.Company ProfileFireEye Inc (NASDAQ:FEYE) provides products and services for detecting, preventing, and resolving advanced cybersecurity threats. Its products comprise threat prevention system that provides threat protection from network to endpoint for inbound and outbound network traffic, such as Web threat prevention appliances to analyze all Web traffic; email threat prevention appliances that detect and stop advanced attacks; and file threat prevention appliances, which analyze network file servers to detect and quarantine malicious software. The company’s products also include central management appliances that manage threat prevention system; forensic analysis system, which executes and inspects malware, zero-day, and other advanced cyber attacks; and endpoint threat prevention systems that detect, analyze, and resolve security incidents.

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