Fusion-io Coverage Initiated at Macquarie (FIO)
Investment analysts at Macquarie began coverage on shares of Fusion-io (NYSE:FIO) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of Fusion-io (NYSE:FIO) traded up 4.14% on Tuesday, hitting $8.81. 2,552,574 shares of the company’s stock traded hands. Fusion-io has a 52-week low of $8.32 and a 52-week high of $22.10. The stock has a 50-day moving average of $9.04 and a 200-day moving average of $11.79. The company’s market cap is $929.3 million.
Fusion-io (NYSE:FIO) last released its earnings data on Wednesday, October 23rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 26.9% on a year-over-year basis. 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 Needham & Company reiterated a “buy” rating on shares of Fusion-io in a research note to investors on Thursday, January 2nd. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus 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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