Why FireEye (FEYE) Stock Is Up Today

NEW YORK (TheStreet) -- FireEye (FEYE) was gaining 1.9% to $30.00 Thursday after Stifel Nicolaus initiated coverage of the company with a "buy" rating.

The analyst firm set a price target of $45 for the company. "FireEye has been rapidly expanding its product portfolio, both organically and through acquisition, most recently with the acquisition of Mandiant," analyst Gur Talpaz wrote.

Talpaz also praised FireEye's subscription revenue model saying that it is "generating both up-front product and ratable recurring revenue from sales of its core appliance-based solutions."

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FEYE Chart FEYE data by YCharts

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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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Video: What Is FireEye?

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