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Analyst Update: FireEye, Newmont Mining, and Godaddy

Analysts adjusted their ratings and price targets on FireEye Inc (NASDAQ:FEYE), Newmont Mining Corp (NYSE:NEM), and Godaddy Inc (NYSE:GDDY)

Feb 18, 2016 at 2:27 PM
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Analysts are weighing in on cybersecurity stock FireEye Inc (NASDAQ:FEYE), gold mining guru Newmont Mining Corp (NYSE:NEM), and domain marketplace Godaddy Inc (NYSE:GDDY). Here's a quick roundup of today's brokerage notes on FEYE, NEM, and GDDY.

  • FEYE is once again selling off amid bearish analyst attention. The stock is off 2.6% today at $13.44, after a price-target cut to $22 from $24 at Citigroup. FireEye Inc's technical performance has been putrid in recent months, as it's trailed the S&P 500 Index (SPX) by 35 percentage points over the past 60 sessions, and just touched a record low of $11.35 last week. Still, we may not have seen the last of FEYE's analyst-induced losses. That is, nine of 22 brokerage firms still consider it "strong buy," with none calling it a "sell." 
  • Conversely, analysts have been warming up to NEM in recent weeks, and it's no wonder why: the shares are up 25% month-to-date, including a 0.8% pop today to trade at $25.02. Jefferies and CIBC raised their respective price targets overnight to $28 and $28.50, following the gold miner's fourth-quarter earnings results. In the options pits, short-term speculators have taken a call-skewed approach toward Newmont Mining Corp. This is according to the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.64, which is lower than 76% of readings from the past year. 
  • With its 5.3% loss today at $27.57, GDDY is now 22% below its record high of $35.35 from early December. Despite a 14% spike in revenue during the most recent quarter, the company's current-quarter sales outlook and warning about currency headwinds disappointed most on the Street -- but apparently not Deutsche Bank. The brokerage firm raised its price target to $36 from $34. Regardless, Godaddy Inc's price action likely pleases option traders. The stock's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 1.72. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: Marvell Technology Group Ltd., NVIDIA Corporation, and Amazon.com, Inc. and Analyst Downgrades: NetApp Inc., SunPower Corporation, and Fitbit Inc.
 

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