FireEye (FEYE) Premium Warranted, Says Analyst; Stifel Nicolaus Starts at Buy
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Rating Summary:
13 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 11 | New: 43
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(Updated - August 27, 2014 5:35 PM EDT)
Stifel Nicolaus initiated coverage on FireEye, Inc (NASDAQ: FEYE) with a Buy rating and a price target of $45.00. Analyst Gur Talpaz said strong bookings and revenue growth are evidence of the increased market acceptance of the company's solutions.
"We are highlighting the company as our favorite idea within our security software coverage. Our Buy rating is based on the notion that FireEye is one of the more innovative names we have encountered within the security software landscape; it has pioneered and driven innovation within the burgeoning advanced threat management market. We see the company’s products as uniquely differentiated versus competitive offerings, many of which revolve around add-on solutions to existing Next-Generation Firewall (NGF) solutions. We believe the company’s “pure-play” approach, built around a multi-vector threat detection engine atop a custom-built hypervisor, offers best-of-breed
functionality for large enterprises/government organizations looking to combat the ever changing and increasingly complex threat environment," said Talpaz.
"We see FireEye in conjunction with the recent acquisition of Mandiant as being uniquely qualified to offer risk-averse organizations the full lifecycle of security solutions needed to detect, combat, and ultimately remediate a potential attack. Simply put, for such organizations, legacy security software solutions that rely on signature-based recognition mechanisms are prone to “zero-day” attacks and are therefore unsuited to address the rapidly evolving threat environment," he added. "Although FireEye trades at a premium versus other security software vendors, we see the company’s valuation as warranted, given the superior growth trajectory."
For an analyst ratings summary and ratings history on FireEye, Inc click here. For more ratings news on FireEye, Inc click here.
Shares of FireEye, Inc closed at $28.91 yesterday.
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