FireEye FEYE Roadshow – Security Software

FireEye (FEYE) is an IT security play that launched in 2009 and has enjoyed explosive growth and offers a combination of security appliances and online monitoring services that enterprises are shifting too as older IT security technologies are becoming ineffective against newer, more advanced threats.

Post the offering the company will have 118M shares outstanding for a market capitalization of $1.5B at the $13 mid-point of the range. We'd expect the company to do $150M in revenues for 2013 so that's about 10x sales. We know that other security offerings like this have traded up sharply . . .

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