Sterne Agee Upgrades Fusion-Io to Buy (FIO)

By admin | 6 years ago

Fusion-Io (NYSE: FIO) was upgraded by Sterne Agee from a “neutral” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $24.00 price target on the stock.

FIO has been the subject of a number of other recent research reports. Analysts at Benchmark Co. reiterated a “buy” rating on shares of Fusion-Io in a research note to investors on Wednesday, May 23rd. Finally, analysts at Credit Suisse (NYSE: CS) reiterated an “outperform” rating on shares of Fusion-Io in a research note to investors on Monday, March 26th.

Shares of Fusion-Io traded up 2.45% during mid-day trading on Tuesday, hitting $19.27. Fusion-Io has a one year low of $14.90 and a one year high of $41.74. The company has a market cap of $1.798 billion and a P/E ratio of 940.50.

Fusion-Io last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.04. Fusion-Io’s revenue was up 40.0% compared to the same quarter last year. On average, analysts predict that Fusion-Io will post $0.06 earnings per share next quarter.

Fusion-io Inc (Fusion) is a provider of data-centric computing solutions: a combination of hardware and software that places data closer to processing.

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