FireEye Stock Gains, Federal Sales Strong Amid Security Conference – Investor's Business Daily

This post was originally published on this site

FireEye (FEYE) stock surged Thursday following its cybersecurity conference in Washington, D.C., where the company showcased a revamped product portfolio and its Helix analytics platform.


FireEye stock jumped 4.1% to 17.66 on the stock market today. The FireEye Cyber Defense Summit targets federal agencies. The security software maker provides web, email and malware security software to businesses and government agencies.

“Checks with key contacts and federal procurement websites suggest that Q3 was a solid federal quarter for the company,” KeyBanc Capital Markets analyst Rob Owen said in a note to clients.

The Milpitas, Calif.-based company reports third-quarter earnings after the market close on Oct. 30.

FireEye stock is about even with a year ago, including Thursday’s gain. It is trading about 10% below a technical buy point of 19.46.

FireEye’s Low Composite Rating

While analysts see some bright spots, FireEye has a poor Composite Rating of 56 out of a possible 99.

Cybersecurity stocks Fortinet (FTNT), Palo Alto Networks (PANW) and CyberArk Software (CYBR) have the highest Composite Ratings in the Computer-Software Security group. It’s ranked No. 30 out of 197 industry groups tracked by IBD.

FireEye stock has been rising since it reported second-quarter earnings. Billings — a sales growth metric — were a bright spot.

FireEye reported billings of $196.1 million, up 13% from a year earlier, topping estimates of $188.6 million.


Cybersecurity Stocks To Watch Amid Shift To Cloud, AI Software Tools

Looking For Potential Breakout Stocks? Start With These Lists

Improve Your Investing Results With This Simple 3-Step Routine

Sell And Take Profits Or Hold? Here Are Several Guidelines To Follow

Chart-Reading Basics: How A Buy Point Marks A Time Of Real Opportunity

This post was originally published on *this site*