Fusion-io Rating Reiterated by Needham & Company (FIO)
Fusion-io (NYSE:FIO)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company in a report issued on Thursday, Analyst Ratings Network.com reports.
Fusion-io (NYSE:FIO) traded up 7.35% during mid-day trading on Thursday, hitting $9.565. The stock had a trading volume of 3,937,759 shares. Fusion-io has a 52 week low of $8.40 and a 52 week high of $24.18. The stock has a 50-day moving average of $9.47 and a 200-day moving average of $12.11. The company’s market cap is $1.009 billion.
Fusion-io (NYSE:FIO) last posted its quarterly earnings results 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 $-0.29 earnings per share for the current fiscal year.
A number of other firms have also recently commented on FIO. Analysts at UBS AG downgraded shares of Fusion-io from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, December 3rd. They now have a $11.00 price target on the stock, down previously from $15.00. Separately, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Fusion-io in a research note to investors on Thursday, November 7th. They now have a $14.00 price target on the stock. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Fusion-io from $12.00 to $11.00 in a research note to investors on Thursday, October 24th. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.94.
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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