FireEye's 3Q Shows Non-GAAP Profitability, but Company Is Still Mid-Pivot; $15 FVE Maintained
FireEye reported third-quarter results for fiscal 2018 in line with our expectations, and we are maintaining our $15 fair value estimate. While the firm reported a non-GAAP profit of $0.06 per share--its first non-GAAP profit in years and modestly ahead of consensus and our own expectations--we continue to believe long-term issues for FireEye remain the same. FireEye concurrently contends with slowing revenue growth and bloated operating expenses that management has worked to rein in. Years ago,...FireEye provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber attacks. The company's portfolio of cybersecurity products and services is designed to minimize the risk of cyber security breaches by detecting and preventing advanced, targeted and other evasive attacks, as well as enabling management of security operations, including alert management, investigation and response when a breach occurs. The company provides threat detection and prevention solutions, security orchestration, analytics and management solutions, threat intelligence subscriptions, on-demand and managed service subscriptions, and other services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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