Summit Research Sees New Products Drive Accelerated Growth for FireEye

In a report published Friday, Summit Research analyst Richard Williams reiterated a Buy rating and $45.00 price target on

. In the report, Summit Research noted, “We spoke with FireEye (FEYE) to discuss its blitz of new products that have hit the market or will shortly. The new offerings include FireEye-as-a-Service (FEaaS), Advanced Threat Intelligence (ATI), Investigation Analysis (AI) Series, FireEye support for Apple‟s (AAPL, NC) OSX and two consulting services, Industrial Systems Control (ISC) and Cyber Defense Center Development (CDCD), from Mandiant. We believe the new products and services will significantly add to revenue growth over the next year or two. The company presented at MIRCon, introducing new products and generating interest from corporate IT professionals. We believe the stock has fallen to valuation levels at a substantial discount to other high growth software players with unique or proprietary technologies. Reiterate Buy.” FireEye closed on Thursday at $26.86.