NEW YORK (TheStreet) -- FireEye (FEYE) shares are up 3.1% to 29.55 after being upgraded to "hold" from "sell" by analysts at Gabelli & Co.
The rating increase comes a day after the stock fell 23% following the release of the company's first quarter earnings results. The stock declined despite the company beating analysts revenue guidance and posting a net loss in line with estimates.
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Analysts at Gabelli believe that the stock has room to grow from its current price.
"We still see more investment risks than investment opportunities at the current share price, yet we believe current share price does not offer an attractive premium for selling the shares," said Gabelli.