Analyst Downgrades: FireEye, QUALCOMM, Autodesk

Analysts downwardly revised their ratings on FireEye Inc (FEYE), QUALCOMM, Inc. (QCOM), and Autodesk, Inc. (ADSK)

Nov 9, 2015 at 9:57 AM
facebook X logo linkedin

Analysts are weighing in on cybersecurity issue FireEye Inc (NASDAQ:FEYE), as well as tech concerns QUALCOMM, Inc. (NASDAQ:QCOM) and Autodesk, Inc. (NASDAQ:ADSK). Here's a quick roundup of today's bearish brokerage notes on FEYE, QCOM, and ADSK.

  • FEYE is up 1.3% at $24.15, after Imperial Capital hacked its price target to $32 from $55. Last week was a rough one for FireEye Inc; the stock plummeted to a record low of $21.75 on Thursday, as traders jeered a downwardly revised full-year revenue forecast. Despite the stock's second-half descent -- the equity has lost more than half its value since peaking above $55 in mid-June -- FEYE calls have been more popular than usual lately. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 3.57 stands higher than 70% of all other readings from the past year. Should FEYE continue its slide, a mass exodus of option bulls could exacerbate selling pressure.
  • QCOM is down 1.2% at $52.82, after Nomura downgraded the stock to "neutral" from "buy" and sliced its price target to $60 from $75. As with FEYE, QUALCOMM, Inc. is just off a rough earnings week, which sent the stock south of $50 for the first time in four years. Additional downgrades could pressure QCOM even lower. Currently, half of the 22 brokerage firms following the stock consider it a "buy" or better.
  • UBS cut its rating on ADSK to "neutral," but lifted its price target to $65 from $56. The downgrade is surprising, considering the stock has outperformed the broader S&P 500 Index (SPX) by nearly 29 percentage points over the last 40 sessions, and is on the doorstep of its late-February record high of $65 -- despite being down 1.2% this morning at $63.09. Traders at the ISE, CBOE, and PHLX have been betting on a move into previously uncharted waters. Autodesk, Inc.'s 10-day call/put volume ratio across those exchanges weighs in at a top-heavy 36.78, with nearly 37 calls bought to open for each put during the previous two weeks. What's more, this ratio ranks in the bullish 95th percentile of its annual range.
Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI