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Fly News Breaks for May 6, 2016
FEYE
May 6, 2016 | 07:36 EDT
After FireEye reported higher than expected Q1 billings and EPS but lower than expected revenue, Stifel blames the revenue miss on the company's transition to a recurring, pay as you go model. The firm continues to believe that the company's fundamentals are strong, and it thinks that investors will welcome the company's CEO change. Stifel cut its price target on the stock to $32 from $45 but keeps a Buy rating on the shares.
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