Zacks Investment Research downgraded shares of FireEye, Inc. (NASDAQ:FEYE) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “FireEye is a specialized provider of a security platform against cyber-attacks to enterprises and governments. FireEye’s management has been striving to turn around the business through a string of initiatives, which includes product launches, acquisition and cost optimization. We consider that FireEye’s turnaround strategies are paying off as reflected from its back-to-back two quarters of splendid results, and solid outlook for the third quarter and full year. Additionally, although a shift from product-based to subscription-based business model will have a negative impact on FireEye’s near-term results, we believe that it will lead to more stable revenues over the long run.Going ahead, a healthy security market, strong product line-up, deal wins and investment plans should act as a tailwind. Nonetheless, negative operating cash flow remains a major headwind for FireEye, which may hinder the execution of its growth plans.”

A number of other brokerages have also issued reports on FEYE. Vetr lowered shares of FireEye from a strong-buy rating to a buy rating and set a $17.31 target price for the company. in a research report on Monday, June 5th. Susquehanna Bancshares Inc initiated coverage on shares of FireEye in a research report on Wednesday, June 7th. They set a neutral rating and a $17.00 price target on the stock. BidaskClub downgraded shares of FireEye from a hold rating to a sell rating in a research report on Thursday, July 6th. UBS AG set a $16.00 price target on shares of FireEye and gave the stock a hold rating in a research note on Friday, July 7th. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of FireEye in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $16.95.

Shares of FireEye (FEYE) traded down 0.23% on Tuesday, reaching $17.48. 1,999,814 shares of the company’s stock traded hands. The company has a 50 day moving average price of $15.72 and a 200 day moving average price of $14.63. The firm’s market capitalization is $3.18 billion. FireEye has a 52 week low of $10.35 and a 52 week high of $17.78.

FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Tuesday, August 1st. The information security company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.13. FireEye had a negative return on equity of 26.21% and a negative net margin of 46.37%. The company had revenue of $185.50 million for the quarter, compared to analyst estimates of $176.39 million. During the same period last year, the company earned ($0.33) earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that FireEye will post ($0.21) earnings per share for the current fiscal year.

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In other FireEye news, President Travis M. Reese sold 11,555 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $17.50, for a total value of $202,212.50. Following the completion of the sale, the president now owns 508,210 shares in the company, valued at approximately $8,893,675. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alexa King sold 69,884 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $14.46, for a total transaction of $1,010,522.64. Following the completion of the sale, the executive vice president now owns 428,733 shares of the company’s stock, valued at approximately $6,199,479.18. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Several large investors have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in shares of FireEye by 37.4% during the 1st quarter. Bank of Montreal Can now owns 7,887 shares of the information security company’s stock valued at $100,000 after acquiring an additional 2,147 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of FireEye by 30.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock worth $101,000 after acquiring an additional 1,528 shares during the last quarter. US Bancorp DE increased its stake in shares of FireEye by 271.0% in the first quarter. US Bancorp DE now owns 10,662 shares of the information security company’s stock worth $135,000 after acquiring an additional 7,788 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of FireEye by 15.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,134 shares of the information security company’s stock worth $141,000 after acquiring an additional 1,252 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of FireEye during the second quarter worth $142,000. 67.59% of the stock is owned by institutional investors.

About FireEye

FireEye, Inc provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series).

Analyst Recommendations for FireEye (NASDAQ:FEYE)

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