Stifel Reiterates Buy Rating on FireEye, Inc (FEYE) Following Verodin Acquisition

May 29, 2019 7:21 AM EDT
Get Alerts FEYE Hot Sheet
Price: $17.27 --0%

Rating Summary:
    13 Buy, 24 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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Stifel analyst Gur Talpaz reiterated a Buy rating and $22.00 price target on FireEye, Inc (NASDAQ: FEYE) following the company's announced acquisition of Verodin for $250mn in a combination of cash and stock. Talpaz believes that the integration of FireEye's proprietary threat intelligence with the Verodin Platfrom not only enhances the value of the acquired assets but also provides FireEye with the ability to repackage periodic, non-recurring Red Team professional services assessments as a subscription offering.

FireEye expects the acquisition to minimally impact the company's financial performance in 2Q19, contributing $1mn to revenue and $2mn to billings while serving as $0.01 headwind to the bottom-line. The technologies acquired from Verodin will enable FireEye to automate the simulation of attacks within an organization's network and, consequently, measure the effectiveness of the organization's security controls against the simulated attacks.

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 $14.24 yesterday.

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