Information Provided By:
Fly News Breaks for March 20, 2017
FEYE
Mar 20, 2017 | 07:45 EDT
BofA/Merrill analyst Tal Liani upgraded FireEye to Buy and raised its price target to $18 from $13.50 saying the combination of low valuation and expectations, many new solutions, and recent sales leadership changes creates significant upside potential over the next two years. The analyst believes investors underappreciate FireEye's quality of management, recovery strategy, and the quality of its technology and solutions that will drive 2H 2017 growth. Liani said FireEye has some of the most advanced threat intelligence dealing with network threats, endpoint protection, and analytics and threat management tools.
News For FEYE From the Last 2 Days
FEYE
Mar 23, 2017 | 16:25 EDT
Stocks began the day in negative territory but crossed into positive ground as politicians met to try and hammer out a deal on the Trump healthcare bill. When reports surfaced that a final draft had been offered to the Freedom Caucus and a deal had not been reached, stocks pared their gains and ultimately fell into negative territory when it became obvious a vote would not occur today. Many look at getting a deal done as a proxy for the Trump administration's ability to make headway on other initiatives, including tax reform and infrastructure spending. ECONOMIC EVENTS: In the U.S., initial jobless claims surged 15,000 to 258,000 last week after a 6,000 decline to 243,000 in the prior one. New home sales rose 6.1% to a 592,000 rate in February, which was better than expected. Gas inventories showed a 150 billion cubic feet draw versus consensus of a 153 billion cubic feet draw. In Europe, a Eurozone consumer confidence reading rose by 1.2 points to -5.0 in March, beating market expectations of a more modest rise to -5.7. COMPANY NEWS: Ford (F) dropped 0.85% to $11.67 after the automaker said its profit will fall in the current quarter compared to the same period of last year due to higher costs, lower volume, and unfavorable foreign exchange movements... Conversely, shares of PVH Corp. (PVH) gained 8.5% to $98.55 after the owner of the Calvin Klein brand reported better than expected fourth quarter results and guidance... Meanwhile, Walt Disney (DIS) announced that it has extended Robert Iger's contract as Chairman and CEO of the company to July 2, 2019. Iger said he is "confident that Disney's best days are still ahead" but added, according to Bloomberg, that he won't extend his contract again beyond this... Alphabet (GOOGL) Class A shares ended the trading day down 1.2% at $839.65 after media reports saying Johnson & Johnson (JNJ) has suspended advertising from YouTube and other Google properties over concerns the tech giant isn't doing enough to prevent brands' ads from appearing next to offensive material. The pharmaceutical company joins AT&T (T) and Verizon (VZ), who had announced yesterday that they were putting much of their advertising spending with Google on hold, excluding search ads, over similar concerns. MAJOR MOVERS: Among the notable gainers was FireEye (FEYE), which advanced 6% after Goldman Sachs analyst Gabriela Borges double upgraded the stock to Buy as she sees an emerging path to growth. Also rising was Flexion Therapeutics (FLXN), which surged over 33% higher after FiercePharma's Editor-in-Chief Tracy Staton said Sanofi (SNY) has agreed to buy the smaller biotech company for more than $1B in cash. Additionally, On Deck Capital (ONDK) rose 6.5% following a report by Reuters saying that Kabbage is seeking to raise funds to use for potential acquisitions and that it is considering the company as a possible target. Among the noteworthy losers was Proofpoint (PFPT), which fell almost 7% Goldman Sachs' Borges downgraded the stock to Sell, citing the stock's premium valuation. Also lower was Accenture (ACN), which slipped 4.5% after the company announced higher than expected second quarter earnings per share. INDEXES: The Dow fell 4.72, or 0.02%, to 20,656.58, the Nasdaq lost 3.95, or 0.07%, to 5,817.69, and the S&P 500 declined 2.49, or 0.11%, to 2,345.96.
FEYE
Mar 23, 2017 | 12:21 EDT
Stocks opened lower as investors were on watch for a timing announcement regarding the planned vote on the Trump administration's American Health Care Act bill. The wrangling is continuing as a time has still not been set and President Trump is tweeting as he continues to work to win enough support to see the Obamacare replacement plan pass the House. The market saw its lows a short time after the open and has crossed into positive ground, standing near session highs at midday. ECONOMIC EVENTS: In the U.S., initial jobless claims surged 15,000 to 258,000 last week after a 6,000 decline to 243,000 in the prior one. New home sales rose 6.1% to a 592,000 rate in February, which was better than expected. Gas inventories showed a 150 billion cubic feet draw versus consensus of a 153 billion cubic feet draw. In Europe, a Eurozone consumer confidence reading rose by 1.2 points to -5.0 in March, beating market expectations of a more modest rise to -5.7. COMPANY NEWS: Shares of PVH Corp. (PVH) have gained almost 9% near noon after the owner of the Calvin Klein brand reported better than expected fourth quarter results and guidance... Conversely, Ford (F) has dropped fractionally, well off its earlier lows, after the automaker said its profit will fall in the current quarter compared to the same period of last year due to higher costs, lower volume, and unfavorable foreign exchange movements... Meanwhile, Walt Disney (DIS) announced that it has extended Robert Iger's contract as Chairman and CEO of the company to July 2, 2019. Iger said he is "confident that Disney's best days are still ahead" and he plans to work with the Board to identify a successor as CEO and "ensure a successful transition." MAJOR MOVERS: Among the notable gainers was FireEye (FEYE), which advanced over 8% after Goldman Sachs analyst Gabriela Borges double upgraded the stock to Buy as she sees an emerging path to growth. Also higher was Five Below (FIVE), which gained more than 12% after the company beat consensus expectations for the quarter. Additionally, On Deck Capital (ONDK) rose about 8% following a report by Reuters saying that Kabbage is seeking to raise funds to use for potential acquisitions and that it is considering the company as a possible target. Among the noteworthy losers was Proofpoint (PFPT), which slid over 5% Goldman Sachs' Borges downgraded the stock to Sell, citing the stock's premium valuation. Also lower was Accenture (ACN), which slipped about 3.5% after the company announced higher than expected second quarter earnings per share. INDEXES: Near midday, the Dow was up 71.80, or 0.35%, to 20,733.10, the Nasdaq was up 16.39, or 0.28%, to 5,838.03, and the S&P 500 was up 8.35, or 0.36%, to 2,356.80.
FEYE
Mar 23, 2017 | 10:28 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. FireEye (FEYE) upgraded to Buy from Sell at Goldman with analyst Gabriela Borges saying estimates are likely to move higher as momentum builds through 2017. The introduction of advanced analytics platform Helix addresses many of FireEye's previous challenges by reducing total cost of ownership by up to 50% while streamlining the company's go-to-market under its new head of sales, the analyst contends. 2. Kroger (KR) upgraded to Outperform from Sector Perform at RBC Capital with analyst William Kirk citing valuation. 3. Dollar Tree (DLTR) upgraded to Neutral from Underperform at Credit Suisse with analyst Edward Kelly saying while challenges clearly remain, particularly given the deteriorating industry backdrop, Dollar Tree differentiates itself at this point by having the resources at its disposal to address its momentum in transaction synergies. Kelly believes it may be one of the few large cap staples retailers to actually grow earnings in 2017 and sees the risk/reward as balanced. 4. Ferrari (RACE) upgraded to Buy from Neutral at Citi with analyst Michael Tyndal saying Ferrari can raise prices, grow volumes and reduce unit costs in unison. This is "something that is relatively unheard of in the auto world," the analyst contends. He sees potential for the company's volumes to double in a decade. 5. Winnebago (WGO) upgraded to Buy from Neutral at Northcoast with analyst Seth Woolf saying it reported an excellent second quarter report. The analyst said the Grand Design acquisition has been more profitable than previously thought and expects the company to participate in robust growth trends in towables. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FEYE
Mar 23, 2017 | 10:11 EDT
This morning, Goldman Sachs analyst Gabriela Borges commented on two internet security names, taking diverging positions on FireEye (FEYE) and Proofpoint (PFPT). While the analyst double upgraded the former to Buy as she sees an emerging path to growth, Borges cut her rating on the latter to Sell, citing the stock's premium valuation. BUY FIREEYE: In a research note to investors, Goldman Sachs' Borges double upgraded FireEye to Buy from Sell and raised her price target on the shares to $15 from $10. The analyst noted that 2017 product revenue and billings estimates have been reset, with a shift to a greater level of recurring revenue occurring faster than she expected. Further, Borges pointed out that she believes the introduction of Helix, an advanced analytics platform, addresses many of FireEye's challenges by reducing total cost of ownership by 33%-50%, and streamlining the company's go-to-market strategy under its new head of sales. Helix becomes generally available in April, she added. Although the analyst acknowledged that it will likely take time for the provider of cybersecurity solutions to build sustained channel support, Borges believes momentum should build through 2017. Additionally, the analyst told investors that she expects estimates to be revised higher post a material reset over the last year, and stabilization in fundamentals is likely to drive a re-rating in the stock's multiple. SELL PROOFPOINT: Also this morning, Goldman's Borges downgraded Proofpoint to Sell from Neutral and lowered her price target on the shares to $69 from $77. While the analyst told investors that she continues to view the company as a "best-in-class asset" with improving free cash flow, Borges argued that risk/reward for the stock is skewed negative. Proofpoint screens as "one of the most expensive" stocks in Software after a "perfect storm" of fundamental tailwinds in 2015 and 2016, but these tailwinds are likely to normalize or reverse, she contended. Moreover, Borges noted that she believes Wall Street is "overestimating" the sustainability of growth, adding that she forecasts moderating share gains in email security. Further, the analyst pointed out that market momentum in email security and advanced threat protection is transitioning from "hyper growth" to a steadier state of adoption. She expects multiple compression for Proofpoint as growth slows. PRICE ACTION: In morning trading, shares of FireEye have jumped about 10% to $12.61, while Proofpoint has dropped over 4% to $75.71 per share.
FEYE
Mar 23, 2017 | 09:19 EDT
UP AFTER EARNINGS: PVH Corp. (PVH), up 6.9%... Five Below (FIVE), up 8.2%. ALSO HIGHER: bebe stores (BEBE), up 7.5% after saying the company is exploring strategic alternatives... Snap (SNAP), up 3.2% after being initiated with a Neutral at Piper Jaffray... FireEye (FEYE), up 7.4% after being upgraded to Buy from Sell at Goldman. LOWER: Accenture (ACN), down 2.9% after reporting quarterly results... QuickLogic (QUIK), down 10% after its 11.3M share Secondary priced at $1.50... Heat Biologics (HTBX), down 19.4% after its 5M share Spot Secondary priced at 80c... Merit Medical (MMSI), down 3.2% after its 4.5M share Secondary priced at $28.25... Ford (F), down 2.6% after issuing first quarter guidance below analyst estimates.
FEYE
Mar 23, 2017 | 06:01 EDT
Goldman Sachs analyst Gabriela Borges downgraded Proofpoint (PFPT) to Sell and lowered her price target for the shares to $69 from $77. Proofpoint screens as one of the most expensive stocks in Software, while the Street is overestimating the sustainability of the company's growth, Borges tells investors in a research note. She expects moderating share gains in email security. Borges this morning also double upgraded FireEye (FEYE) to Buy from Sell.
FEYE
Mar 23, 2017 | 05:58 EDT
Goldman Sachs analyst Gabriela Borges double upgraded FireEye (FEYE) to Buy from Sell and raised her price target for the shares to $15 from $10. The provider of cybersecurity solutions closed yesterday up 5c to $11.49. Estimates are likely to move higher as momentum builds through 2017, Borges tells investors in a research note. The introduction of advanced analytics platform Helix addresses many of FireEye's previous challenges by reducing total cost of ownership by up to 50% while streamlining the company's go-to-market under its new head of sales, the analyst contends. Borges coupled the double upgrade with a downgrade of Proofpoint (PFPT) to Sell.
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.