Stephens Raises PT On FireEye

In a report published Friday, analysts at Stephens maintained their Equal-Weight rating on

. The price target was raised from $43 to $45. The company reported strong 1Q15 results with the revenue and non-GAAP EPS ahead of the Street consensus. "Revenue upside was driven by strength across the Company's portfolio of products as Mandiant responded to more than 100 incidents, FireEye as a Service grew faster than any other product at scale, email attach rates were particularly strong, and IPS attach rates doubled," the analysts said. Stephens expects FireEye to continue to witness robust organic growth, driven by the company's solid product pipeline and complete advanced persistent threat protection platform, as well as favorable market trends. FireEye issued its Q2 guidance in-line with the consensus to a large extent, while raising its revenue and non-GAAP EPS guidance for FY15. The analysts have raised their FY15 estimates for the company due to the Q1 outperformance as well as the revised guidance. However, the analysts believe that at the current valuation, there is limited upside for the stock.