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Fly News Breaks for July 31, 2019
FEYE
Jul 31, 2019 | 07:45 EDT
BofA Merrill Lynch analyst Tal Liani said FireEye's weak revenue guidance and weak gross margins are responsible for the 15% decline in the stock in after-hours trading, but he advises buying amid the weakness as he believes the weak quarter is due to transitory factors and he sees "healthier growth beneath the surface." Billings trends point to growth being resumed and FireEye remains one of the cheapest stocks in the Security space, said Liani, who keeps a Buy rating on the stock with a $20 price target.
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