Melissa Gorham and Keith Weiss of Morgan Stanley rated FireEye Inc FEYE at Equal-Weight alongside a $37 price target. The stock traded up 68 cents in Wednesday’s session, closing at $47.69. FireEye is trading up $1.82 to $49.51(3.82 percent) in Thursday’s pre-market session.
Melissa and Keith believe FireEye is on the path to sustaining 30 percent (or more) billings growth through CY19. Strategic partnerships, government traction, and international adoption are potential drivers that will influence revenue and customer additions, according to the two analysts.
They see FireEye on a path towards “break-even operating margins in 3-5 years, assuming FireEye sustains 35 percent revenue growth and continues to see sales productivity improve.”
The stock has been rising, up 10 percent in the past 30 days, 51 percent year-to-date.
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