- BMO Capital lowers its FireEye (NASDAQ:FEYE) price target by a dollar to $17.
- Firm notes that the company mostly maintained its 2018 outlook but slightly raised billings guidance. Q3 billings was about in-line with consensus while the implied Q4 billings were disappointing considering the easy comparisons in the quarter.
- Despite improving operating profitability and the company being on track to reach its 2018 targets, BMO finds it hard to build a compelling valuation case.
- Source: Briefing.com.
- FireEye shares are down 3.8% premarket to $15.10.
- Previously: FireEye -2% after Q2 beats, in-line guide (Aug. 1)