Market News

Microsoft Pulls Out of Talks to Acquire Mandiant — Report

Microsoft (NASDAQ: MSFT) has backed out from talks to acquire cybersecurity firm Mandiant, Inc. (NASDAQ: MNDT), as the tech giant thinks that the security businesses of both the companies would not fit together, Bloomberg reported citing people with knowledge of the matter.

Meanwhile, according to a report published by The Information, Alphabet’s (NASDAQ: GOOGL) Google has opened talks to snap up Mandiant.

The news pushed MNDT stock up 16.1% on Monday before dropping 2.7% in the extended trading session to end the day at $21.89.

About Mandiant

Virginia-based Mandiant provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyberattacks. Its offerings include Enterprise Security, Managed Security, Threat Intelligence, and Industry Solutions.

Analysts’ Take

Last month, Catharine Trebnick from Colliers Securities maintained a Buy rating on the stock with a price target of $22 (2.2% downside potential).

Additionally, Barclays (NYSE: BCS) analyst Saket Kalia reiterated a Sell rating on Mandiant and increased the price target to $20 from $17 (11.1% downside potential).

Based on 1 Buy, 2 Holds and 1 Sell, Mandiant has a Hold consensus rating. The average MNDT price target of $19.50 implies 13.3% downside potential from current levels. Shares have gained 30.2% year-to-date.

Hedge Fund Trading Activity

TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Mandiant is currently Very Positive, as the cumulative change in holdings across all five hedge funds that were active in the last quarter was an increase of 1.2 million shares.

Download the TipRanks mobile app now.

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure

Related News:
Oasis Petroleum and Whiting Petroleum Sign $6B Merger Agreement
Moderna to Build First Manufacturing Facility in Kenya
General Motors Partners with POSCO Chemical to Make Battery Materials

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More