NEW YORK (TheStreet) -- An analyst upgrade and company news salved burned FireEye (FEYE) bulls Tuesday. However, after a massive drop from March's all-time-high, many investors on StockTwits.com remained wary of the enterprise cyber security firm.
$FEYE optimism is good, but i remember people trying to catch this falling knife from $95-- the twit (@the__twit) Apr. 8 at 10:02 AM
FireEye shares have fallen more than 20% in the past five days amidst a broader market sell-off that spurred investors to abandon higher-risk growth stocks. The company trades at 43 times 12-month trailing sales and was named one of the 500 fastest growing technology firms by Deloitte.
But investors caught a break this morning as shares climbed 4% after a Wedbush analyst upgrade. In a Tuesday note to clients, analyst Sanjit Singh raised FireEye's rating to outperform from neutral, saying he sees "robust growth." He set a $62 price target on shares.
FireEye traded at around $51 this morning after losing some of its initial gains.
$FEYE Does it pay to chase, or does the chaser pay? Guess we will know in a few...-- Syntec Ventures (@SyntecVentures) Apr. 8 at 09:20 AM
Some investors expressed surprise that FireEye shares didn't go higher. The stock is down about 47% from an all-time-high of $95.63, hit on March 5.
$FEYE an upgrade's only worth 4% now even after a 50% crash?