Fusion-io Analyst Day Is A Success
Analysts left Fusion-io's (NYSE: FIO) analyst day on positive note.
Pacific Crest analyst Brent Bracelin noted that Fusion-io is showing “solid progress” in the turnaround. Bracelin remarked that he would have liked to see more details on metrics and milestones to reinforce the turnaround thesis but left analyst day with increasing confidence in the “high-caliber” team and their practices to drive reacceleration in growth in FY15. Pacific Crest holds an Outperform rating on Fusion-io.
Andrew Nowinski from Piper Jaffrey commented that he left with a better understanding of the new go-to-market strategy. Nowinski added that two new appliances round out FIO's portfolio. Piper Jaffrey has an Overweight rating on the company.
Morgan Stanley's Katy Huberty published a report in Friday noting that “Fusion-IO appears well on its way to graduating from the pains of a start-up culture.” The analyst continued, “A (mostly) new executive team is in place, operational procedures are ramping, and the new sales & marketing strategy will be rolled out by June. Visibility into the timing of a growth and profit recovery should improve in FY15, potentially setting it u as an interesting self-help story at that time.” Huberty reiterated an Equal-Weight rating.
On Thursday, Fusion-io introduced an all-flash ION Accelerator appliance and ioControl Hybrid Storage appliance.
Shares of Fusion-io closed at $11.12 on Thursday.
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