In a new report, Wedbush analyst Steve Koenig previewed 3Q earnings for cybersecurity stocks Proofpoint and FireEye. Although Koenig reduced his price target for FireEye, he remains bullish on both stocks ahead of earnings.

Proofpoint

Proofpoint is set to release earnings on October 21. Wedbush is calling for Q3 revenue about $1 million above consensus estimates. “We believe management has created a culture of spending discipline ad structured its investment trajectory with an eye towards balancing growth with sustainable operating leverage,” Koenig explained.

According to Wedbush’s contacts within the cybersecurity space, industry incumbents Cisco Systems, Inc. CSCO 1.08% and Symantec Corporation SYMC 0.05% continue to lag Proofpoint in keeping up with the modern threat environment.

FireEye

FireEye has…

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