Stifel Initiates FireEye With Buy Rating

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Analysts at Stifel initiated coverage on FireEye Inc. FEYE with a Buy rating and price target of $45 on Thursday. Fireeye is a leading provider of advanced threat management solutions for the enterprise and government sectors.

Gur Talpaz stated, “FireEye is the market leader within the rapidly evolving advanced
threat management space.” In addition, “FireEye been rapidly expanding its product portfolio, both organically and through acquisition, most recently with the acquisition of Mandiant.”

Analysts also see value in FireEye’s unique subscription revenue model, “generating both up-front product and ratable recurring revenue from sales of its core appliance-based solutions.” In fact, more than 50 percent of product bookings came from subscription-based products in the first half of 2014. Lastly, FireEye has historically experienced a 90% customer renewal rate, which will lead to increased visibility for the firm.

Shares of FireEye are currently trading at $30.00 up 1.9% pre-market Thursday.

Posted In: InitiationAnalyst RatingsGur TalpazStifel
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