What happened Shares of FireEye (NASDAQ: FEYE) fell 15.9% in September, according to data from S&P Global Market Intelligence. The entire cybersecurity sector fell last month, but FireEye has actually performed worse than the other top players in the space. Many cybersecurity stocks are up for the year, as the COVID-19 pandemic has accelerated attacks on vulnerable companies. However, FireEye's stock still remains below its January highs and is down 25% on the year. Image source: Getty Images. So what Many technology stocks pulled back in September, likely due to concerns over stretched valuations, a slew of new initial public offerings hitting the market drawing investor attention, and perhaps some apprehension about the upcoming presidential election. FireEye has been bid down relative to peers because its legacy product-related business makes up a larger part of its revenue base, at almost half of its annualized recurring revenue. That legacy product and related subscription business is declining, weighing down its overall growth to a middling 6% rate last quarter, far behind some peers. However, underneath the hood, FireEye also grew its newer cloud and services-related business at a 27% rate. That bodes well for the company moving forward, as that segment has just become a majority of annualized revenue. FEYE Year to Date Total Returns (Daily) data by YCharts Now what FireEye's $2.8 billion market capitalization looks very reasonable compared with its current 2020 revenue guidance for $915 million, or just a three times sales multiple; however, FireEye isn't profitable under generally accepted accounting principles (GAAP), recording a net loss of $52.2 million last quarter. While that was an improvement over the prior-year quarter's $66.7 million loss, it still indicates a company in turnaround mode. Cybersecurity is an increasingly competitive field, so there are still a lot of open questions surrounding FireEye's positioning; however, if the company can continue growing its new-aged cloud services on a sustained basis going forward, it may be one to watch for value investors. However, I would probably lean toward the better-quality cyber stocks currently growing faster than FireEye today. 10 stocks we like better than FireEyeWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and FireEye wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Billy Duberstein has no position in any of the stocks mentioned. His clients may own shares of the companies mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source