Vetr Inc. Upgrades Rackspace Hosting to Strong-Buy (RAX)
Several other research analysts have also issued reports on RAX. Zacks downgraded Rackspace Hosting from a "buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Wells Fargo & Co. reaffirmed an "outperform" rating on shares of Rackspace Hosting in a research report on Tuesday, July 14th. Evercore ISI downgraded Rackspace Hosting from a "buy" rating to a "hold" rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Thursday, July 9th. JMP Securities reaffirmed a "buy" rating and issued a $62.00 price target on shares of Rackspace Hosting in a report on Monday, June 29th. Finally, TheStreet lowered Rackspace Hosting to a "hold" rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consens us rating of "Hold" and an average target price of $50.05.
Shares of Rackspace Hosting (NYSE:RAX) opened at 32.05 on Monday. The company has a market capitalization of $4.58 billion and a P/E ratio of 40.57. The company has a 50-day moving average price of $36.04 and a 200 day moving average price of $45.29. Rackspace Hosting has a 1-year low of $28.80 and a 1-year high of $56.20.
Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings results on Monday, May 11th. The hosting company reported $0.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters consensus estimate of $0.20. The firm earned $480.20 million during the quarter, compared to the consensus estimate of $481 million. Rackspace Hosting's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Equities research analysts anticipate that Rackspace Hosting will post $0.87 EPS for the current year.
Rackspace Hosting, Inc. (NYSE:RAX) runs in the handled cloud section of the company information technology (IT) marketplace. The Organization provides a portfolio of integrated IT solutions for common business needs, including for e commerce, Web content management, office mail, data services, Website hosting and cooperation, and private clouds. It also provides advisory services for technology strategy, security and conformity, program evaluation and migration, and DevOps automation. The Business offers its solutions across a variety of IT form factors, including multi-tenant public cloud – cloud that is private, tenant servers, and cloud that is hybrid. Additionally, it produces Fanatical Support across its entire product portfolio, and managed services. The Company sells its services to business customers in more than 120 nations. The Company has operations located throughout the USA, along with in Mexico City, Sydney and London, Amsterdam, Zurich, Hong Kong.
To view Vetr's full report, visit Vetr's official website.
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Source: Vetr Inc. Upgrades Rackspace Hosting to Strong-Buy (RAX)
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