Stifel Reiterates Buy Rating on FireEye, Inc (FEYE) Following Verodin Acquisition
- S&P 500 ends slightly lower after jobs report
- U.S. job juggernaut rolled on in November; nonfarm payrolls up 263,000
- We are selling risk rallies - Bank of America's Hartnett
- United Airlines (UAL) nearing deal to order dozens of Boeing 787 Dreamliners - WSJ
- Meta Platforms says metaverse could contribute over $3 trillion to global GDP by 2031
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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.
Shares of FireEye, Inc closed at $14.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Craig-Hallum Sees 'Tremendous Logic' for RingCentral (RNG)/8x8 (EGHT) Merger
- Vizsla Silver Corp (VZLA:CN) (VZLA) PT Lowered to Cdn$3.30 at Stifel Canada
- IAC/Interactive Corp (IAC) has no near-term catalysts, limited scope - UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Mergers and Acquisitions
Related EntitiesStifel, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!