Piper Jaffray Lifts FireEye (FEYE) PT to $45
Piper Jaffray analyst Andrew Nowinski reiterated an Overweight rating and boosted his price target on FireEye, Inc (NASDAQ: FEYE) to $45.00 (from $40.00) following Q4 results, saying the company is well-positioned for growth this year.
Nowinski commented, "FireEye’s Q4 results modestly exceeded expectations and management’s guidance for FY15 nearly bracketed the aggressive Street estimate. While short interest remains high, we believe the overall market opportunity is rapidly increasing and FireEye is one of the best-positioned vendors to capitalize on this growth. No other vendor is getting called into more high-profile breaches, which in turn is leading to new lead generation and FireEye product sales. We expect demand to remain strong in 2015, which should enable the company to hit its long-term operating targets. Therefore, we reiterate an Overweight rating and raise our price target to $45 (prev $40)."
Shares of FireEye, Inc closed at $35.69 yesterday.