This Cybersecurity Stock Could Step on the Gas in 2020
FireEye (NASDAQ: FEYE) has turned out to be a disappointing cybersecurity bet over the past year. A transition from a hardware-centric model to a cloud-specific one and the company's failure to keep up with rivals on the research and development front have constricted its financial growth even though the overall cybersecurity market has been growing at a fast pace.
The disappointment continued with FireEye's fiscal 2019 fourth-quarter report as the company's billings growth wasn't solid enough to satisfy Wall Street.
The company's billings increased just 3% annually during the quarter to $274 million, missing the consensus estimate range of $285 million to $295 million by a wide margin. This has sparked concern among investors as FireEye considers billings a gauge of the company's future revenue growth.
Source Fool.com
