Fusion-io (NYSE:FIO) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho 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 a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Fusion-io from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $14.10 price target on the stock. Finally, analysts at Piper Jaffray Cos. reiterated an “overweight” rating on shares of Fusion-io in a research note to investors on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.07.
Fusion-io (NYSE:FIO) opened at 12.98 on Thursday. Fusion-io has a 52 week low of $10.38 and a 52 week high of $32.63. The stock has a 50-day moving average of $12.34 and a 200-day moving average of $14.56. The company’s market cap is $1.300 billion.
Fusion-io (NYSE:FIO) last released its earnings data on Wednesday, October 23rd. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Fusion-io will post $0.01 EPS for the current fiscal year.
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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