The stock of FireEye, Inc. (NASDAQ:FEYE) is now priced at $15.36 and the shares are 0.34 points up or 2.3% higher compared to its previous closing price of $15.02. The stock had 4.091 million contracts set over the past session. FEYE shares’ daily volume is compared to its average trading volume at 5.426 million shares. However, it has a float of 217 million and although its performance was 14.8% over the week, it’s one to watch. Analysts have given the FEYE stock a yearly average price target of $14.13 per share. It means the stock’s downside potential is -8.01% with the FEYE share price recently placing at $14.96 to $15.535. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are climbing into the FireEye, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the FEYE shares have risen. Short interest in the stock represents just 8.61% of its float, but the volume has raised by 1777. The volume of shorted shares rised to 18.708 million from 18.706 million shares over the last two weeks. The average intraday trading volume has been 3.671 million shares, which means that days to cover moved to roughly 5.096538.
In the last trading session, FireEye, Inc. (NASDAQ:FEYE) raised by $1.98 over the week and gained $3.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.34. The stock recorded its established 52-week high on 01/07/20.
Since 03/17/20, the stock has traded to a low of $7.54 at 103.71%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.15. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, FireEye, Inc.’s two-week RSI is 66.02. This suggests that the stock is neutral at the moment and that FEYE shares’ price movement remains stable. The stochastic readings are equally revealing at 73.87% meaning the FEYE share price is currently in oversold territory.
The technical chart shows that the FEYE stock will likely settle at between $15.61 and $15.86 per share. However, if the stock dips below $15.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.71.
Currently, the stock is trading in the green of MACD, with a reading of 0.76. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BMO Capital Markets though raised target price of FEYE stock from $12.50 to $15 but maintained Market Perform recommendation in their July 29 review. Goldman analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $18 in a flash note released to investors on March 05. BofA/Merrill seeing the stock struggling downgraded it from Buy to Neutral on January 08.
The average rating for the FEYE equity is 2.32 and is currently gathering a bullish momentum. Of 19 analysts tracking FireEye, Inc. polled by Reuters, 11 rated FEYE as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the FEYE stock price is 52.42X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 0 below the group’s average of 37.7. FireEye, Inc. has its P/E ratio at 5.2, which means that the stock is currently trading at a discount relative to the 12.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for FireEye, Inc. (NASDAQ:FEYE) will decrease by about -99.9%, which will see them reach $227.65 million. The company’s full-year revenues are, however, expected to increase by about 3.39%, up from $889.15 million to $919.27 million. FEYE’s expected adjusted earnings should surge almost 250% to end up at $0.07 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 400% to record $0.25/share.