FireEye: Color on Qtr
- BMO Capital raises tgt to $15 from $11. On almost every metric compared to even recently raised investor expectations, firm thinks FEYE had a great quarter and the stock should move deservingly higher near term. However, given the recent launch of several new products and management's stated intent to reshape the company into a complete security platform, BMO thinks the longer-term growth potential remains a question.
- Stifel Research raises tgt to $20 from $17. FireEye reported better than expected 1Q17 results. Following a challenged Q4, marked by execution challenges and the departure of its CFO, FireEye showcased an unexpected level of resilience for the first quarter. In addition, FireEye offered up full year guidance (the company did not give full year expectations on the last call) that came in ahead of Street expectations across all key financial metrics, including revenue, billings, and EPS. As FireEye looks to turn the page, the recently released Helix solution coupled with increased product refresh, and the forthcoming launch of the new endpoint solution (HX) will be key in sustaining momentum, particularly in the back-half of the year.