Fusion-io Price Target Cut to $10.00 (FIO)
Research analysts at RBC Capital lowered their price objective on shares of Fusion-io (NYSE:FIO) from $11.00 to $10.00 in a report released on Thursday, Analyst Ratings News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective suggests a potential upside of 6.16% from the company’s current price.
Fusion-io (NYSE:FIO) last announced its earnings results on Wednesday, January 22nd. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $0.04. The company had revenue of $94.50 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter last year, the company posted $0.13 earnings per share. Fusion-io’s revenue was down 21.6% compared to the same quarter last year.
A number of other analysts have also recently weighed in on FIO. Analysts at Craig Hallum initiated coverage on shares of Fusion-io in a research note to investors on Thursday. They set a “buy” rating on the stock. Separately, analysts at Macquarie initiated coverage on shares of Fusion-io in a research note to investors on Tuesday, January 14th. They set a “neutral” rating on the stock. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Fusion-io in a research note to investors on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company. Fusion-io currently has an average rating of “Hold” and a consensus target price of $13.61.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.