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UPDATE: Goldman Sachs Initiates Coverage on FireEye on Market Leader Position

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In a report published Tuesday, Goldman Sachs analyst Greg Dunham initiated coverage on FireEye (NASDAQ: FEYE) with a Neutral rating and $35.00 price target.

In the report, Goldman Sachs noted, “We initiate with a Neutral rating on FireEye, whose technology enables government organizations and enterprises to counteract cyber threats. FEYE is posting hyper growth (2Q revenues +109% yoy) as it benefits from customer adoption (+78% yoy) and new enterprise architectures in concert with a next generation of attacks (e.g., spear phishing, Advanced Persistent Threats) that make signature-based solutions less effective. FireEye is investing (headcount +228% yoy) to capture the opportunity. Despite our positive view, at 25x 2014 EV/Sales vs. hyper growth peers at 15x, we believe shares price in significant optimism, and we see limited near-term outperformance.”

FireEye closed on Monday at $41.55.

Latest Ratings for FEYE

DateFirmActionFromTo
May 2015Evercore PartnersInitiates Coverage onBuy
Mar 2015Raymond JamesInitiates Coverage onMarket Perform
Feb 2015Bank of America

View More Analyst Ratings for FEYE
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Greg DunhamAnalyst Color Initiation Analyst Ratings

 

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