FireEye (FEYE) Launches XDR Platform, Boosts Product Portfolio

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FireEye, Inc. (FEYE Quick QuoteFEYE ) recently launched an XDR (eXtended Detection and Response) Platform, aimed at helping enterprises and security operations teams quickly detect and respond to any cyber attack.

The platform includes FireEye Helix and any combination of its endpoint, network, email and cloud products. The XDR platform will be delivered through cloud subscription licenses and will be charged based on per user or by data consumption basis.

The enterprise and mid-market security operations teams are increasingly at risk from cyberattacks due to multiple factors including threats sophistication, suboptimal security tool management and personnel shortages. The FireEye XDR platform will provide visibility across an organization’s endpoints, network and cloud workloads, and enhance security teams’ capabilities for controlling incidents from detection to response.

FireEye’s Products business will be introducing new features to this XDR platform over the next few quarters. New features will include enhanced Endpoint cloud capabilities, FireEye Helix upgraded dashboards and threat graphing capabilities, additional support for leading third-party security tools, and continued integration with the Mandiant Advantage platform (including the newly launched Mandiant Automated Defense equipped with multi-vendor XDR capability).

FireEye, Inc. Price and Consensus FireEye, Inc. Price and Consensus

FireEye, Inc. price-consensus-chart | FireEye, Inc. Quote

It is worth mentioning that the company has inked an agreement to sell its product business, including the FireEye name, to Symphony Technology Group, in an all-cash transaction worth $1.2 billion, which is expected to complete by fourth-quarter 2021 end. It will separate FireEye’s digital forensics and incident response arm, Mandiant, from its network, email and cloud security products.

For the past few m! onths, FireEye has been focusing on enhancing the product capabilities of its Mandiant business. In June, the company launched the Mandiant On-Demand Cyber Intelligence Training centered on educating security teams on the practical application of threat intelligence concepts.

In May, it introduced Mandiant Cyber Risk Management Services to address critical business and security requirements to equip executives, boards of directors, and security and cross-functional leaders with risk-based data and advice to build effective and balanced security programs.

Yet, the Red Team data breach in December 2020 has put FireEye’s reputation at risk. This could impact the company’s business in the near term as customers may become hesitant in buying its solutions, which couldn’t safeguard itself from hackers.

Zacks Rank & Key Picks

Currently, FireEye carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader technology sector include ON Semiconductor Corporation (ON Quick QuoteON ) , Avnet, Inc. (AVT Quick QuoteAVT ) and Paycom Software (PAYC Quick QuotePAYC ) , each carrying a Zacks Rank of 1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for ON Semiconductor, Avnet and Paycom is currently pegged at 52.3%, 25.4% and 25% respectively.

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