Market Overview

UPDATE: Piper Jaffray Downgrades Fusion-io to Neutral on Guidance

Related FIO
Stock Market News for July 01, 2014 - Market News
Benzinga's M&A Chatter for Monday June 16, 2014
Report: Oracle Nearing Deal for Micros Systems (Fox Business)

Piper Jaffray downgraded Fusion-io (NYSE: FIO) from Overweight to Neutral and lowered the price target from $33.00 to $18.00.

Piper Jaffray commented, "We are downgrading shares of FIO to Neutral due to slower earnings growth expectations following the disappointing guidance for FY13. While we are still convinced the flash storage market remains robust, evidenced by the 66% growth in enterprise revenue this quarter, we expect shares to remain range bound over the next 6-12 months, until Apple and Facebook resume spending on new projects. We are somewhat concerned this 6 month deferral could provide ample time for the competition to improve their products."

Fusion-io closed at $20.09 on Wednesday.

Latest Ratings for FIO

DateFirmActionFromTo
Jul 2014Monness Crespi HardtTerminatesNeutral
Jun 2014Piper JaffrayDowngradesOverweightNeutral
Jun 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for FIO
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Analyst Ratings

 

Related Articles (FIO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters