FireEye Forecast Sales for Q3

FireEye Inc (NASDAQ:FEYE) issued strong sales forecast for the third quarter. The company said it expects Q3 sales at or above the high end of prior guidance range of $217 million to $221 million. The company projects billings within prior guidance range of $245 million to $255 million.

What’s more, Robert W. Baird maintained a Buy rating on FireEye and set a price target of $23.00.

FireEye Inc has an analyst consensus of Moderate Buy, with a price target consensus of $18.32, a 32.8% upside from current levels. In a report issued on October 4, Northland Securities also assigned a Buy rating to the stock with a $19.00 price target.

The Washington, D.C.-based intelligence-led security company, also today announced the availability of two new FireEye® Mandiant® services. With Purple Team and Continuous Purple Team Assessments, organizations can now work closely with FireEye Mandiant incident response experts to quantifiably evaluate their security programs against Verodin® simulated attack scenarios.

"Many organizations do not test the efficacy of their security controls and program thoroughly or often enough. Without validation, security teams may base decisions on assumptions rather than evidence, which can instill false confidence in their ability to detect and respond to a security breach," said Charles Carmakal, CTO of FireEye Mandiant consulting.

"FireEye Mandiant Purple Team Assessments combine the best practices from offense and defense so that the organization can quantifiably test and measure their security effectiveness and improve their overall risk posture."

Red teams simulate attacks and blue teams defend against attacks. Purple team assessments are a collaborative effort among the red and blue teams. Mandiant experts function as the red team and augment an organization’s blue team.

Shares galloped 90 cents, or 6.5%, to $14.74