Why FireEye Was Down 17% in February
Shares of cybersecurity company FireEye (NASDAQ: FEYE) were down 17.2% in February, according to data provided by S&P Global Market Intelligence. Overall, it was a pretty volatile month for the stock, with both jumps and drops. An earnings beat and a rumored buyout from Cisco Systems provided nice pops in the price per share, while weak forward guidance and the overall market correction both contributed to the downside.
FireEye began February by reporting fourth-quarter and full-year 2019 financial results, exceeding both revenue and non-GAAP earnings per share (EPS) guidance. Guidance had called for $224 million to $228 million in revenue and $0.03 to $0.05 in non-GAAP EPS. However, its Q4 resulted in quarterly revenue of $235 million and non-GAAP EPS of $0.07 -- good for 8% and 17% year-over-year growth, respectively.
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Source Fool.com
