BTIG analyst Joel Fishbein downgraded FireEye to Neutral, saying its turnaround has "hit a hiccup" after several consecutive beat and raise quarters. The analyst notes that while billings came in strong with a double-digit increase, the results were "stained" by a miss on the product, subscription, and support revenue line. Fishbein also points to a "stagnating momentum" and the reduced visibility of larger deals. While he sees its valuation as inexpensive, the analyst expects FireEye shares to trade "rangebound" until there is more excitement about its new products.