FireEye (FEYE, $16.94) stock upgraded to "overweight" from "neutral" by JPMorgan Chase; shares jump +3.4% in pre-market trading

FireEye (FEYE) stock got upgraded to overweight from neutral by JPMorgan Chase analysts. The analysts set a $20 price target on the cyber-security company’s shares.

Analyst Sterling Auty cited FireEye’s “market leading incident response service with an expanding product portfolio" as factors behind the rating upgrade. FireEye generated a +10% growth in billings in the December quarter, and is expected to have a higher growth prospect through 2019.

"We believe the transition is complete and now FEYE is in position to see billings growth in the high single digits and the potential to over deliver and see double digit growth", mentioned Auty. Additionally, Auty emphasized that FireEye’s strong expense control as a contributor to operating leverage should be a tailwind for the company whose stock  is currently trading under 4x EV/Sales.

FireEye shares climbed +3.4% in pre-market trading Monday.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.