Reuters: Global Markets: FireEye surges in debut, puts cybersecurity in spotlight

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

LSAT prep from HLS-educated instructors LSATMax includes video lessons, unlimited personal attention & support, and over 6,000 real questions from previous LSAT's. Enroll for just $299. From our sponsors

FireEye surges in debut, puts cybersecurity in spotlight Sep 20th 2013, 16:50 By Jim Finkle Fri Sep 20, 2013 11:51am EDT (Reuters) - Shares in cybersecurity firm FireEye Inc (FEYE.O) more than doubled in their trading debut on Friday following their initial public offering as investors rushed to snap up shares in the fast-growing company that helps businesses fend off hackers. The shares more than doubled to $43.10 as they opened trading on Nasdaq. The company sold some 15.2 million shares at $20 per share, above its proposed price range. FireEye's revenue jumped nearly seven times to $83.3 million between 2010 and 2012, while its net losses widened to $35.8 million from $9.5 million during the same period. "The valuation is astronomical, but so is the revenue growth rate," said Tim Ghriskey, chief investment officer with Solaris Asset Management. "For many investors this is nosebleed territory - especially since the stock has opened at twice the IPO price," he added. The IPO price valued FireEye at about $2.3 billion. The company raised about $304 million from the offering. All the shares in the IPO were sold by the company. (Reporting by Jim Finkle; Additional reporting by Neha Dimri and Sagarika Jaisinghani; in Bangalore; Editing by James Dalgleish) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions