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Rackspace Hosting (NYSE:RAX) has earned an average recommendation of "Hold" from the twenty-eight ratings firms that are presently covering the company, Analyst Ratings Network.com reports. Five research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $42.24.

Several research firms have issued reports on RAX. Zacks cut shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a research note on Tuesday, October 13th. William Blair reissued an "outperform" rating on shares of Rackspace Hosting in a report on Monday, October 12th. Vetr lowered shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $32.50 price objective for the company. in a report on Tuesday, September 15th. Tigress Financial raised shares of Rackspace Hosting from a "buy" rating to a "strong-buy" rating in a report on Thursday, August 13th. Finally, Credit Suisse restated a "buy" rating and issued a $50.00 price target on shares of Rackspace Hosting in a research report on Wednesday, August 12th.

In other news, Director Graham M. Weston purchased 85,500 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $29.24 per share, for a total transaction of $2,500,020.00. Following the completion of the transaction, the director now owns 318,599 shares of the company's stock, valued at $9,315,834.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Rackspace Hosting (NYSE:RAX) traded down 0.68% during mid-day trading on Friday, reaching $25.01. 1,962,536 shares of the company's stock traded hands. The stock has a market cap of $3.56 billion and a price-to-earnings ratio of 29.77. The firm's 50 day moving average price is $27.65 and its 200-day moving average price is $37.37. Rackspace Hosting has a 12-month low of $23.65 and a 12-month high of $56.20.

Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, August 10th. The hosting company reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters' consensus estimate of $0.20. The company had revenue of $489 million for the quarter, compared to the consensus estimate of $490.54 million. Equities research analysts forecast that Rackspace Hosting will post $0.83 earnings per share for the current year.

Rackspace Hosting, Inc. (NYSE:RAX) manages in the managed cloud section of the business information technology (IT) market. The Company provides a portfolio of integrated IT solutions for business needs that are common, including for ecommerce, Web content management, office mail, data services, Website hosting and collaboration, and clouds that are private. Additionally, it provides advisory services for DevOps automation, security and conformity, program assessment and migration, and technology strategy. The Company also offers its solutions across an assortment of IT form factors, including multi tenant public cloud – private cloud, tenant servers, and hybrid cloud. In addition, it provides 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 over the USA, too as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.

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Source: Rackspace Hosting Given Consensus Recommendation of "Hold" by Brokerages (NYSE:RAX)