Mandiant (NASDAQ:MNDT) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Mandiant (NASDAQ:MNDTGet Rating) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has $23.00 price target on the stock.

According to Zacks, “Mandiant is benefiting from increased demand for cybersecurity solutions amid the coronavirus-induced work-and-learn-from-home trend. Strong demand for Platform, Cloud Subscription, Managed Services and Mandiant Consulting services is encouraging. Moreover, the significant momentum in Mandiant Professional Services is a tailwind. Further, rising customer accounts are likely to boost revenues. The increased margin of the cloud-hosted product is a boon. Nonetheless, the pandemic is expected to affect contract length significantly in the near term. Shorter-length contracts may be fruitful as these generally generate higher margins compared with three-year contracts. However, these short-term contracts adversely impact near-term top-line performances. Shares of the company have underperformed the industry over the past year.”

Several other research analysts have also recently commented on MNDT. William Blair reaffirmed a market perform rating on shares of Mandiant in a research report on Tuesday, March 8th. StockNews.com initiated coverage on Mandiant in a research report on Thursday, March 31st. They issued a sell rating for the company. Morgan Stanley reduced their target price on Mandiant from $19.00 to $16.00 and set an equal weight rating for the company in a research report on Thursday, January 27th. TheStreet upgraded Mandiant from a d+ rating to a c- rating in a research note on Monday, March 21st. Finally, Truist Financial increased their price objective on Mandiant from $17.00 to $23.00 and gave the stock a hold rating in a research note on Thursday, March 24th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $19.75.

MNDT opened at $21.78 on Wednesday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 6.00 and a beta of 0.89. Mandiant has a 1-year low of $13.76 and a 1-year high of $23.33. The business has a 50 day moving average of $22.14 and a 200-day moving average of $18.93. The company has a current ratio of 2.41, a quick ratio of 2.46 and a debt-to-equity ratio of 0.44.

Mandiant (NASDAQ:MNDTGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $130.14 million during the quarter, compared to the consensus estimate of $129.61 million. Mandiant had a negative return on equity of 16.05% and a net margin of 175.80%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts predict that Mandiant will post -1.09 EPS for the current year.

In other news, Director Ronald E. F. Codd sold 78,000 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $18.63, for a total value of $1,453,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William T. Robbins sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $18.25, for a total value of $912,500.00. The disclosure for this sale can be found here. Insiders have sold 328,412 shares of company stock valued at $6,678,712 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. CI Investments Inc. acquired a new stake in shares of Mandiant in the first quarter valued at $26,000. M&T Bank Corp acquired a new stake in shares of Mandiant in the first quarter valued at $31,000. KRS Capital Management LLC acquired a new stake in shares of Mandiant in the fourth quarter valued at $26,000. Carroll Investors Inc acquired a new stake in shares of Mandiant in the fourth quarter valued at $27,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Mandiant in the fourth quarter valued at $32,000. Institutional investors own 86.88% of the company’s stock.

About Mandiant (Get Rating)

Mandiant, Inc engages in the provision of cyber defense solutions. The company, through the Mandiant Advantage SaaS platform, delivers current intelligence, automation of alert investigation, and prioritization and validation of security controls products from various vendors. Its products and services include Advantage Platform, a multi-vendor XDR platform that delivers the company's expertise and frontline intelligence to security teams; Managed Defense, a solution with comprehensive protection from advanced and emerging threats; Mandiant consulting services in the areas of threats and risk related to cyber security; and Mandiant Academy, which trains security team to protect and defend their enterprises against targeted cyber attacks.

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