Checks Following FireEye's 'Momentum' Conference Show Event Was 'Strong'

Detwiler Fenton issued a report on FireEye Inc FEYE after the company's Momentum 2016 sales kickoff. Analyst Paul Rodriguez highlighted the statements FireEye made and concluded that investor sentiment coming out of the conference was strong and the company has the potential to drive subscription and support services growth.

"FEYE's Email Threat Prevention (ETP) offering has served as a great example of the leverage gained from Cloud delivery and we expect the Cloud to be a strategic delivery platform for FEYE going forward...FEYE's ability to leverage its balance sheet to continuously invest in channel development will prove to be meaningful as well."

Analysts at Detwiler Fenton see strength in FireEye's security capabilities, particularly their Orchestrator platform which it acquired from the purchase of Invotas. They believe this platform has the potential to achieve strong value for its customer base with benefits such as attack detection results and threat intelligence. Furthermore, FireEye Essentials was noted as a potentially strong opportunity for the company to drive top line and billings growth going forward.

FireEye is set to release its Q4 earnings on Thursday. Wall Street expects revenues of $185.24 million and earnings of $(0.37) per share.

Shares of FireEye is trading at $11.90, down 9.92 percent.