Fusion-io PT Lowered to $11.00 (FIO)
Research analysts at Janney Montgomery Scott decreased their target price on shares of Fusion-io (NYSE:FIO) from $12.00 to $11.00 in a report released on Thursday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. Janney Montgomery Scott’s price target would suggest a potential upside of 15.30% from the stock’s previous close.
Shares of Fusion-io (NYSE:FIO) traded down 2.85% during mid-day trading on Thursday, hitting $9.54. 8,007,624 shares of the company’s stock traded hands. Fusion-io has a 52 week low of $10.38 and a 52 week high of $32.63. The stock’s 50-day moving average is $12.34 and its 200-day moving average is $14.56. The company’s market cap is $953.1 million. Fusion-io also saw unusually large options trading activity on Thursday. Traders bought 19,859 put options on the company. This is an increase of approximately 611% compared to the average volume of 2,792 put options.
Fusion-io (NYSE:FIO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.11) by $0.04. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.73 million. During the same quarter last year, the company posted $0.14 earnings per share. Fusion-io’s revenue was down 26.9% compared to the same quarter last year. On average, analysts predict that Fusion-io will post $-0.26 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays cut their price target on shares of Fusion-io from $13.00 to $11.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at UBS AG cut their price target on shares of Fusion-io from $18.00 to $15.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Fusion-io in a research note to investors on Thursday. They now have a $14.00 price target on the stock, down previously from $17.00. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.30.
Fusion-io Inc (NYSE:FIO) is a provider of datacenter solutions that accelerate databases, virtualization, cloud computing, big data, and the applications that help drive business from the smallest e-tailers to some of the largest data centers, social media leaders, and Fortune Global 500 businesses.
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