FireEye Inc (NASDAQ:FEYE) Suffers A Major Setback On Account Of Lower Sales And CFO Departure

FireEye Inc (NASDAQ:FEYE) stock dwindled in the market the previous week, on account of weak billings and key leadership positions resigning from the company. The previous week had remained volatile for the company with moderate first quarter forecast, resignation of the CFO and lower sales capacity, everything followed by slow contract fulfilments.

The headwinds continue for FireEye Inc

The company’s appliance sales have been on the downward trend, of late. This has resulted in faster declines in profits and sales. Resulting in all this, the Q1 2017 of cyber Security Company indicated towards headwinds continuing in the same direction. All this stands on the bleak past of lower-than-expected Q4 2016 revenue and billings.

Meanwhile, the analysts are compelled to cut down their price target for the company. Imperial Capital’s Michael Kim continued with the In-Line rating for shares with price target slashed $3 to $12.

Will the new cloud based solutions work in favour of FireEye Inc?

While the last week has remained particularly challenging for the company, the analysts are still riding the hope on its new cloud-based solutions. FireEye Inc is working on new solutions like Cloud MVX, Cloud HX, which have the potential to turn the tables around.

These new products can result in better sales execution and stronger progress for the company. Also, its Helix platform can work in the favour to turn things. In the note, Michael Kim says, “We look for stronger turnaround progress as well as greater channel leverage under new sales leadership.”

However, he did warn the investors to remain at the sidelines by the time this company bounces back with consistent financial results along with renewed billings growth. As far as the departure of Mike Berry, company’s Chief Financial Officer is concerned; the analysts believe that this may lead to only little turbulence.

Kim adds, “We look for potential upside in the endpoint market with Cloud HX (endpoint detection), iSight (threat intelligence), and MVX Smart Grid (private cloud version of MVX).”


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Published by Van Bettauer

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