Fusion-io (NYSE:FIO) was downgraded by investment analysts at FBN Securities from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Fusion-io (NYSE:FIO) opened at 10.07 on Thursday. 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 $1.009 billion.
Fusion-io (NYSE:FIO) last announced its earnings results 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 previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, analysts predict that Fusion-io will post $0.01 earnings per share for the current fiscal year.
FIO has been the subject of a number of other recent research reports. Analysts at RBC Capital 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 “sector perform” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Fusion-io from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Fusion-io from a “neutral” rating to an “underweight” rating in a research note to investors on Thursday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.74.
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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