What: Shares of cybersecurity technologist FireEye climbed as high as 11.4% in early Monday trading.
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So what: Ever since the stock's earnings-related 5% price plunge on Feb. 12, FireEye shares have been, well, on fire, and today's surge only reinforces that turnaround momentum. Of course, the Nasdaq itself is up about 1.5% today with several tech companies also posting double-digit gains on relatively no news, so investors probably shouldn't look too much into the pop.
Now what: FireEye is scheduled to report its Q1 earnings on April 28, with analysts expecting a per-share loss of $0.50 on revenue of $171.6 million. "We entered 2016 with a diversified customer base, a unique value proposition based on reduced cyber risks and lower total cost of ownership, a differentiated intelligence-led platform," said CEO David DeWalt in its Q4 conference call with analysts. "We're very excited about the breadth and relevancy of our solutions and the expanded opportunities represented by our new Essential and Power editions, our new intelligence subscriptions and our international expansions." Even with today's double-digit gain, however, the shares are still off about 70% from their 52-week highs, so analysts still need plenty of proof that those opportunities can translate intoprofits.
The article Why FireEye Inc Shares Jumped Again originally appeared on Fool.com.
Brian Pacampara has no position in any stocks mentioned. The Motley Fool owns shares of and recommends FireEye. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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