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FireEye Higher After Goldman Sachs Goes From Sell To Buy

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FireEye Higher After Goldman Sachs Goes From Sell To Buy
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FireEye Inc (NASDAQ: FEYE) shares are trading higher by $1.00 (7.5 percent) at $12.49.

In a rare move by Wall Street analysts, Goldman Sachs flipped its Sell rating into a Buy rating. On most occasions, analysts will incrementally adjust their ratings reflecting their negative or positive view towards a company.

FireEye's stock, which got off the mat on March 20 when it rallied from $10.73 to $11.61, appeared to lose momentum until today's surprise move by Goldman Sachs.

After a higher open, the stock had a brief retreat to $12.28 before continuing its move higher. So far, the continuation rally has taken it to $12.73. That marks its highest level since February 2, when it peaked at $13.26 and closed the session at $12.97. The following day it declined to $10.93 following its Q4 beat and lower Q1 guidance.

See Also:

Exclusive: FireEye CEO Talks Limits Of Cybersecurity, Company's 'Moat'

Exclusive: FireEye CEO Reflects On Company's Transition, What Keeps Him Up At Night

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