There’s $14 billion up for grabs in fiscal 2016 cybersecurity spending by the sector’s biggest customer — the federal government — and Palo Alto Networks (PANW), FireEye (FEYE), Fortinet (FTNT) and CyberArk Software (CYBR) are vying for their respective chunks of cash. But some are doing better than others. FireEye stock plunged to a record low 21.75 on Nov. 5 after reporting Q3 sales that missed Wall Street views and guiding below consensus
CyberArk’s (CYBR) late Thursday Q3 beat-and-raise wasn’t enough to pull it out of FireEye’s (FEYE) tornado, and shares fell again Friday. FireEye sent security software stocks falling Thursday after the company late Wednesday posted disappointing earnings and gave disappointing guidance. CyberArk stock fell 4.5% Thursday and, even after its beat and upward nudge to its 2015 estimates after the close, its shares were down an additional 3% in midday
Depressed Q3 European sales forced FireEye (FEYE) stock to a record low Thursday, leading an FBN Securities analyst to suggest Palo Alto Networks (PANW), Cisco Systems (CSCO), Fortinet (FTNT) or Check Point Software (CHKP) could make a play for the company. FireEye hit a record-low 21.75 — several dollars below the previous all-time low — after plunging 24% in the stock market today on the cybersecurity firm’s Q3 revenue and Q4 sales outlook