Rackspace Hosting Given Buy Rating at Stifel Nicolaus (RAX)
A number of other research firms have also recently weighed in on RAX. Cowen and Company restated an outperform rating and set a $75.00 price target on shares of Rackspace Hosting in a research note on Monday, April 27th. Morgan Stanley lowered shares of Rackspace Hosting from an overweight rating to an equal weight rating and decreased their target price for the stock from $55.00 to $49.00 in a report on Tuesday, May 12th. Oppenheimer reissued an outperform rating and issued a $62.00 price target on shares of Rackspace Hosting in a report on Tuesday, May 12th. Credit Agricole reduced their target price on shares of Rackspace Hosting from $55.00 to $52.00 and set an outperform rating on the stock in a report on Tuesday, May 12th. Finally, Credit Suisse reissued an outperform rating and set a $54.00 price target (down previously from $57.00) on shares of Rackspace Hosting in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a sell rating, el even have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Rackspace Hosting currently has a consensus rating of Hold and an average price target of $42.96.
Shares of Rackspace Hosting (NYSE:RAX) traded up 2.56% during mid-day trading on Tuesday, reaching $29.99. 6,899,488 shares of the company's stock were exchanged. The firm has a market cap of $4.27 billion and a P/E ratio of 35.70. Rackspace Hosting has a 52-week low of $27.65 and a 52-week high of $56.20. The company has a 50 day moving average price of $35.60 and a 200 day moving average price of $45.04.
Rackspace Hosting (NYSE:RAX) last released its earnings results on Monday, August 10th. The hosting company reported $0.20 earnings per share for the quarter, meeting the Zacks' consensus estimate of $0.20. The company earned $489 million during the quarter, compared to analysts' expectations of $490.54 million. Analysts forecast that Rackspace Hosting will post $0.87 earnings per share for the current fiscal year.
Rackspace Hosting, Inc. (NYSE:RAX) runs in the managed cloud section of the business information technology (IT) market. The Organization offers a portfolio of integrated IT solutions for common business wants, including for e commerce, Web content management, office mail, information services, Website hosting and cooperation, and private clouds. In addition, it offers advisory services for security, technology strategy and compliance, application evaluation and migration, and DevOps automation. The Company also offers its solutions across an assortment of IT form factors, including multi tenant public cloud – tenant servers, private cloud, and hybrid cloud. In addition, it delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the USA, along with in Sydney, London, Amsterdam, Zurich, Hong Kong and Mexico City.
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Source: Rackspace Hosting Given Buy Rating at Stifel Nicolaus (RAX)
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