×

FireEye 'kicking butt,' CEO says

FireEye stock sold off 15 percent Wednesday, just one day after the cybersecurity company's outlook fell below expectations—but CEO Dave DeWalt still defended its performance.

"Obviously, first of all, you know, FireEye's been one of the fastest-growing companies, not just in security but in all of enterprise," he said. "We went from, I think, $57 million in 2011 in billings to now an estimated $580 million just three years later now in 2014. I mean, the company 10x'd in 12 quarters. Even if you go back just eight quarters, the company quintupled, or 5x'd, in just a two-year period."

On CNBC's "Fast Money," DeWalt said the company was performing well.

Read MorePeter Thiel says Airbnb worth more than Uber, sees no bubble

"And, you know, if you look at the top line, this company's performing amazingly, and we continue to take a ton of market share every quarter," he said.

63112704
Getty Images

DeWalt also said competitor Palo Alto Networks was a year ahead in "maturity of their float" and other metrics. "And frankly, when you look at McAffee and Symantec and some of the other companies, we are kicking their butt. And we are doing a lot of good work today in the market and in the market share."

Shares of FireEye closed at $29.12, climbing more than 2 percent in after-hours trading. The company said it expects revenue between $135 million to $147 million for the fourth quarter versusestimates of $144.2 million.

Read More FireEye revenue forecast largely below Street, shares slide

Private Advisor Group's Guy Adami said the stock was interesting.

"Dave tells a great story, granted, but he's in the right space, which I think trumps everything," he said. "Granted, you probably have to tinker with the May lows, but here at $29 I think you buy it for a trade."

Stuart Frankel's Steve Grasso preferred competitor Palo Alto Networks, even though it was up 78 percent year-to-date—with a caveat.

"I think if you buy Palo Alto, you have to keep it on a very, very short leash," he said. "Maybe you keep a $99 stop on it."

Read MoreFireEye CEO apologizes after stock plunges

Dan Nathan of RiskReversal.com said he was eyeing FireEye stock in the mid-$20 range.

"If you have a washout in the next couple of days, I'm getting in there and buying it, too," he said. "I think what happened to the stock going up 400 percent, that's on shareholders. That's not on the company, so now down here at $29 it's starting to look interesting."