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FEYE

FireEye

$13.87

0.24 (1.76%)

10:18
11/22/16
11/22
10:18
11/22/16
10:18

Goldman says sell FireEye as transition risks underestimated

Goldman Sachs downgraded FireEye (FEYE) to Sell from Neutral, saying that the Internet security company's transitions create medium-term risks for the stock. TRANSITIONS: FireEye's customers are changing their buying patterns, and the company is looking to move into the mid-market from the high-end market, according to Goldman Sachs analyst Gabriela Borges. The changed buying patterns will pressure the company's fundamentals next year, warned Borges. Meanwhile, the move into the subscription/services portfolio market "will be difficult to execute," due to the competitive environment and cost effectiveness issues, she believes. The Street continues to underestimate the challenges that these transitions pose, the analyst warned. DELAYED GRATIFICATION: Even if FireEye's efforts are successful, they probably won't bear fruit next year, according to Borges. That's because the company is introducing new products, and "sales cycles usually take 6-9 months," while the company's mid-year launch may not coincide favorably with companies' budget cycles, according to Borges. PRICE TARGET: Borges cut her price target on the stock to $11 from $15. PRICE ACTION: In early trading, FireEye fell 6.5% to $13 per share.

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FEYE FireEye
$13.87

0.24 (1.76%)

10/21/16
FANA
10/21/16
DOWNGRADE
Target $11
FANA
Underweight
FireEye downgraded to Underweight from Equal-Weight at First Analysis
First Analysis analyst Howard Smith downgraded FireEye to Underweight saying the security spending environment favors other players in the space. The company's high cash burn will drive share underperformance, Smith tells investors in a research note. He cut his price target for the stock to $11 from $15. FireEye closed the trading day up 36c to $12.64.
10/24/16
10/24/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AT&T (T)downgraded to Hold from Buy at Drexel Hamilton, and to Market Perform from Outperform at Cowen. 2. Time Warner (TWX) downgraded to Neutral from Outperform at Credit Suisse, to Neutral from Buy at MKM Partners, to Neutral from Conviction Buy at Goldman, to Neutral from Outperform at Macquarie, to Hold from Buy at Pivotal Research, to Neutral from Overweight at Atlantic Equities, to Neutral from Buy at MoffettNathanson, and to Sector Perform from Outperform at RBC Capital. 3. Everyday Health (EVDY) downgraded to Neutral from Outperform at Credit Suisse, to Hold from Buy at SunTrust, and to Market Perform from Outperform at Leerink. 4. Reynolds American (RAI) downgraded to Underperform from Outperform at CLSA with analyst Michael Lavery saying British American Tobacco's (BTI) $56.50 offer for Reynolds is a moving target and is now worth $55.50. 5. FireEye (FEYE) downgraded to Underweight from Equal-Weight at First Analysis with analyst Howard Smith saying the security spending environment favors other players in the space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/04/16
OPCO
11/04/16
NO CHANGE
Target $28
OPCO
Outperform
FireEye price target lowered to $28 from $33 at Oppenheimer
Oppenheimer analyst Shaul Eyal lowered his price target for FireEye to $28 from $33 on valuation. Following the company's "solid" Q3 results, the analyst is encouraged by the ongoing operational improvement as well as overall demand and product trends. Further, Eyal says it appears that FireEye's management team "has turned a corner steering it in the right direction." The analyst reiterates an Outperform rating on the shares.
11/22/16
GSCO
11/22/16
DOWNGRADE
Target $11
GSCO
Sell
FireEye downgraded to Sell from Neutral at Goldman
Goldman analyst Gabriela Borges downgraded FireEye to Sell and lowered its price target to $11 from $15. The analyst said the Street is underestimating medium near-term risk from several product and business model transitions. He expects margins to remain pressured in 2017 due to changes in customer buying patterns and believes FireEye's move into the mid-market will be difficult to execute.

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