Why FireEye (FEYE) Stock Is Up Today

NEW YORK (TheStreet) -- FireEye (FEYE) was gaining 5.2% to $29.38 Monday ahead of its lock-up expiration on May 21.

In a note to investors analyst firm Nomura said that sentiment towards FireEye may improve after its lock-up expiration on May 21. Analyst Rick Sherlund said FireEye's technology is "best-of-breed," and that it has a great opportunity in the IT security market. Sherlund also noted the company's strong management team.

Sherlund maintained a "buy" rating for the stock.

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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."

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