EUR 850.00 For Business Accounts Only

Morningstar | FireEye Moving Toward Being a Primary Vendor Via Its Cloud-based Security Platform

Cybersecurity pure play FireEye sells products, subscriptions, and services to protect customers from threats and to resolve security breaches. With its Mandiant consulting service, FireEye is considered a preeminent provider of incident responses, security assessments, managed defense, training, and security posture improvement. FireEye solutions are used for advanced-threat and zero-day threat protection for networks, endpoints, and email. The company has pivoted from selling appliances toward a cloud-based security model, with a focus on growing revenue from subscriptions and services. FireEye is making concerted efforts to morph the business into being a front-line defense provider instead of a solution that sits behind other security products. We believe FireEye is making strides in the right direction through inventive solutions like its Helix platform, which consolidates FireEye and other vendors' products into a holistic management platform, and expertise on-demand, giving customers the ability to receive immediate help from FireEye experts via the Internet. While we expect demand for FireEye's services, we think strong competition from other leading cybersecurity players' holistic security platforms and spry best-of-breed upstarts will affect its growth trajectory.In our view, the vast creation of data plus the increased usage of software-as-a-service applications and cloud-based ecosystems will continuously drive up the quantity and complexity of cyber threats. We believe that security teams prefer consolidated platforms, like Helix, to manage multiple defense touch points. Although FireEye's platform does not have the breadth of its rivals, we find value in FireEye being able to offer leading services with its subscriptions. FireEye's security experts stay ahead of threat trends via in-depth research; we believe those insights show up in new FireEye subscriptions and give FireEye a unique value proposition. With a lack of security talent in the marketplace, we expect firms to increase their usage of external threat assessments, like FireEye's red teams, while growing their reliance on outsourced security experts when teams are overwhelmed.