Cybersecurity master FireEye (FEYE) - Get Report is a steadily rising momentum stock in a turbulent, uncertain market.

Yes, this year has been unkind to shareholders, with the stock losing one-fourth of its value after FireEye reported first-quarter earnings.

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That said, the company's revenue is expected to increase at about 25% for each of the next two years. Investors should jump aboard this growth stock winner now.

The prevailing environment is also largely favorable for FireEye to keep pushing the numbers higher.

With cybersecurity, the Internet of Things and cybercrime in focus, this stock has considerable upside potential. Analysts expect the stock to surge to about $21 a share in a year.

FireEye has always been under the shadow of a rumored imminent takeover. Last year, Cisco was supposed to be the buyer, and this time it is IBM, a Warren E. Buffett holding

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Notwithstanding that speculation, FireEye is looking at key leadership changes, with Kevin Mandia replacing Dave DeWalt as chief executive starting next month.

The company, which has a bevy of clients, including U.S. federal and foreign governments along with security-conscious enterprises, looks to be on the right track.

FireEye has always has been a sharp and steady contender. But Wall Street has ignored its robust revenue growth.

The common grouse is that sales haven't been as heartening as expected.

For instance, the first-quarter 34% revenue increase to $168 million was solid, but analysts focused on the $3.8 million miss. Second-quarter guidance of $185 million in sales was below expectations of about $192.8 million.

FireEye is poised to be successful in transitioning into an "as-a-service" model. The company's strength in dealing with the growing complexities of the security environment and its best-in-class intelligence-gathering capabilities are unquestionable.

Further, FireEye can also be expected to benefit from international expansion, without a noteworthy upsurge in operating expenses.

With a strong pipeline, FireEye is armed with new products designed to target small- and medium-sized businesses and the cloud, and it should reach profitability next year or in 2018.

In fact, the company could hit the sweet spot a lot sooner if it reaches about $1 billion in annual sales in 2017.

FireEye is already looking far better on a free-cash-flow basis. The company should deliver a strong and sustainable free-cash-flow reservoir in the next two years.

At a price-sales trailing 12 months' multiple of 3.5 times, the $2.56 billion entity is a great technology stock to own.

Consider peers such as Symantec (SYMC) - Get Report , which isn't really expected to increase revenue over the next two years, yet it sports a price-sales ratio of 2.9 times. Giant rival Cisco, which is barely increasing sales, has a multiple of 2.8.

The deep value in FireEye is evident when looking at the multiples of peers such as Adobe Systems (9.5 times), Intuit (about 6 times), (7.83 times) and SAP (almost 4 times).

Stay with FireEye, and reap the rewards.


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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.