NEW YORK (TheStreet) -- FireEye (FEYE) shares are up 0.38% to $52.63 in afternoon trading on Tuesday after the cyber security company had its "buy" rating reiterated with a $62 price target by analysts at Wunderlich.
The price target represents a potential upside of 17.8%.
Analysts at the firm said that the company is "well positioned and significantly differentiated to benefit from the strong security tailwind."
"In our opinion, FEYE's "Detect, Prevent, Analyze and Respond" platform remains a top priority for enterprise focused companies. Based on our recent meeting with FEYE, its TAP cloud analytics combines real-time touch points with an unmatched forensic solution and services," said analysts.
Insight from TheStreet Research Team
FireEye was recently the subject of a Real Money Pro blog post by analyst Robert Lang entitled "FireEye Stock Is 'En Fuego'". Here is what Lang had to say about the stock.
Cybersecurity has become big business. Every week, it seems we are hearing about some breach of important data files by some hacker threatening to steal information that could cost someone many millions of dollars. In fact, last week we heard of not one but two such intrusions into Federal employee files. If it's easy for the government to be victimized then really anyone or anything is vulnerable.
FireEye and others in this group like CyberArk (CYBR) and Palo Alto Networks (PANW) are all the rage this year, as they are the perceived victors of investment by companies in their own protection. As it relates to the charts, the market believes it as well. FireEye is well off its all-time highs, but is at yearly highs in this very sloppy and choppy market, which is quite the feat. This is a stock that has potential for growth but is just in the proving stages.