Citigroup Downgrades FireEye Inc to Neutral with Price Target $18.00

Brokerage firm Citigroup Downgrades its rating on FireEye Inc(NASDAQ:FEYE). In a research note issued to the investors, the brokerage major Lowers the price-target to $18.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On Aug 5, 2016, JP Morgan said it Downgrades its rating on FireEye Inc. The shares have been rated ‘Neutral’ by the firm.

FireEye Inc (FEYE) shares turned negative on Wednesdays trading session with the shares closing down -0.23 points or -1.57% at a volume of 39,77,421. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.72. The peak price level was also seen at $14.72 while the days lowest was $14.23. Finally the shares closed at $14.41. The 52-week high of the shares is $44.67 while the 52-week low is $11.35. According to the latest information available, the market cap of the company is $2,445 M.

FireEye Inc(FEYE) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $175.04M. Analysts had an estimated revenue of $181.61M. Earnings per share were $-0.33. Analysts had estimated an EPS of $-0.39.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Kevin R. Mandia (President) purchased 27,600 shares at $12.70 per share price.Also, On May 10, 2016, Michael J Berry (CFO) purchased 16,500 shares at $12.84 per share price.On Nov 6, 2015, David G Dewalt (CEO) purchased 22,500 shares at $22.87 per share price, according to the Form-4 filing with the securities and exchange commission.

FireEye Inc. is a United States-based company engaged in offering virtual machine-based security platform that provides real-time threat protection to enterprises and governments against the cyber-attacks. The Company’s FireEye Threat Prevention platform provides real-time threat protection without the use of signatures to protect an organization across the primary threat vectors and across the various stages of an attack life cycle. It stops advanced cyber-attacks that use advanced malware zero-day exploits and Advanced Persistent Threat (APT) tactics. Its solutions supplement traditional and next generation firewalls Intrusion Prevention Systems (IPS) anti-virus and gateways. It offers a solution that detects and blocks attacks across Web e-mail endpoint file and mobile threat vectors and latent malware resident on file shares. Its products include Network Security NX Series Malware Analysis AX Series iSIGHT ThreatScape Intelligence and Central Management CM Series.

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