FireEye Inc (NASDAQ:FEYE) Expected to Announce Quarterly Sales of $219.43 Million

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Equities research analysts expect that FireEye Inc (NASDAQ:FEYE) will post $219.43 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for FireEye’s earnings. The lowest sales estimate is $218.00 million and the highest is $221.29 million. FireEye reported sales of $211.65 million in the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that FireEye will report full year sales of $871.72 million for the current financial year, with estimates ranging from $869.74 million to $875.00 million. For the next fiscal year, analysts expect that the business will report sales of $937.90 million, with estimates ranging from $917.24 million to $950.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow FireEye.

FireEye (NASDAQ:FEYE) last posted its quarterly earnings data on Tuesday, July 30th. The information security company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.16. The company had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $215.45 million. FireEye had a negative net margin of 28.13% and a negative return on equity of 19.56%. The firm’s revenue was up 7.4% on a year-over-year basis.

A number of research firms have weighed in on FEYE. Bank of America set a $20.00 price objective on shares of FireEye and gave the company a “buy” rating in a research report on Wednesday, July 31st. BidaskClub raised shares of FireEye from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. SunTrust Banks began coverage on shares of FireEye in a research report on Wednesday, October 2nd. They issued a “hold” rating and a $15.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price objective (down from $17.00) on shares of FireEye in a research report on Wednesday, July 31st. Finally, Oppenheimer set a $19.00 price objective on shares of FireEye and gave the company a “buy” rating in a research report on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. FireEye has a consensus rating of “Hold” and an average price target of $18.72.

In other news, CFO Frank Verdecanna sold 10,525 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.29, for a total transaction of $139,877.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William T. Robbins sold 6,316 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.29, for a total transaction of $83,939.64. Following the transaction, the executive vice president now directly owns 411,357 shares in the company, valued at approximately $5,466,934.53. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Oakworth Capital Inc. bought a new position in shares of FireEye during the second quarter worth about $26,000. Enterprise Trust & Investment Co bought a new position in shares of FireEye during the second quarter worth about $89,000. Oppenheimer Asset Management Inc. bought a new position in shares of FireEye during the second quarter worth about $95,000. Hilton Capital Management LLC bought a new position in shares of FireEye during the first quarter worth about $140,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of FireEye during the second quarter worth about $131,000. 71.27% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FEYE traded down $0.09 on Friday, reaching $14.99. The stock had a trading volume of 2,424,841 shares, compared to its average volume of 3,623,500. The company has a current ratio of 1.56, a quick ratio of 1.55 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average of $13.74 and a 200 day moving average of $14.79. The stock has a market cap of $3.25 billion, a P/E ratio of -20.82 and a beta of 0.96. FireEye has a 12-month low of $12.66 and a 12-month high of $20.61.

About FireEye

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, investigate, respond to, and remediate cyber-attacks. The company provides threat detection and prevention solutions, including network security solutions, email security solutions, endpoint security solutions, and customer support and maintenance services.

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