Will This Upgrade Help FireEye (FEYE) Today?

Story updated at 10 a.m. to reflect market activity.

NEW YORK (TheStreet) -- FireEye FEYE was upgraded to "outperform" from "neutral" by Wedbush Tuesday.

Shares of FireEye gained 2.7% to $51.70 in morning trading.

The firm set a price target of $72 for the computer security company. Wedbush analysts note that FireEye stock has declined, but say that business continues to deliver robust growth.

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"FireEye, Inc. invented a purpose-built, virtual machine-based security platform that provides real-time protection to enterprises and governments worldwide against the next generation of cyber attacks. Its technology approach represents a paradigm shift from how information technology (IT) security has been conducted since the earliest days of the information technology industry. The FireEye platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors, including Web, email, and files and across the different stages of an attack life cycle. The core of its purpose-built, virtual machine-based security platform is its virtual execution (MVX), engine, which identifies and protects against known and unknown threats that existing signature-based technologies are unable to detect. In January 2014, FireEye, Inc. announced that it had acquired Mandiant."

FEYE Chart

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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