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Goldman Sachs Starts FireEye, Inc (FEYE) at Neutral

October 15, 2013 7:56 AM EDT Send to a Friend
Get Alerts FEYE Hot Sheet
Price: $47.11 -1.05%

Rating Summary:
    9 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 9 | New: 22
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Goldman Sachs initiated coverage on FireEye, Inc (NASDAQ: FEYE) with a Neutral rating and a price target of $35.00.

Analyst Greg Dunham said, "We initiate with a Neutral rating on FireEye, whose technology enables government organizations and enterprises to counteract cyber threats. FEYE is posting hyper growth (2Q revenues +109% yoy) as it benefits from customer adoption (+78% yoy) and new enterprise architectures in concert with a next generation of attacks (e.g., spear phishing, Advanced Persistent Threats) that make signature-based solutions less effective. FireEye is investing (headcount +228% yoy) to capture the opportunity. Despite our positive view, at 25x 2014 EV/Sales vs. hyper growth peers at 15x, we believe shares price in significant optimism, and we see limited near-term outperformance."

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 $41.55 yesterday.




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