Benchmark Maintains a 'Buy' Fusion-io (FIO); Adjusting Estimates After Another Strong Qtr
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Price: $11.24 --0%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark maintains a 'Buy' Fusion-io (NYSE: FIO) price target from $30 to $35.
Analyst, Gary Mobley, said, "Fusion-io reported another strong quarter driven primarily by “Core” sever customers such as HP and IBM and secondarily by “Strategic” customers such as Apple and Facebook. Fusion-io continues to benefit from the burgeoning market for direct attached flash storage and seems to be staving off competition by building a large ecosystem of hardware and software partners well ahead of anyone else. OEM qualifications for ioDrive2 and falling NAND flash prices should catalyze revenue growth and gross margin during the next few quarters."
Raising raises Q4 revs from $87 mln to $97 mln, FY12 EPS estimate increased from $0.25 to $0.29 and lowering FY13 EPS estimate from $0.66 to $0.57.
For an analyst ratings summary and ratings history on Fusion-io click here. For more ratings news on Fusion-io click here.
Shares of Fusion-io closed at $28.98 yesterday.
Analyst, Gary Mobley, said, "Fusion-io reported another strong quarter driven primarily by “Core” sever customers such as HP and IBM and secondarily by “Strategic” customers such as Apple and Facebook. Fusion-io continues to benefit from the burgeoning market for direct attached flash storage and seems to be staving off competition by building a large ecosystem of hardware and software partners well ahead of anyone else. OEM qualifications for ioDrive2 and falling NAND flash prices should catalyze revenue growth and gross margin during the next few quarters."
Raising raises Q4 revs from $87 mln to $97 mln, FY12 EPS estimate increased from $0.25 to $0.29 and lowering FY13 EPS estimate from $0.66 to $0.57.
For an analyst ratings summary and ratings history on Fusion-io click here. For more ratings news on Fusion-io click here.
Shares of Fusion-io closed at $28.98 yesterday.
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