FY2016 Earnings Estimate for Rackspace Hosting, Inc. Issued By Oppenheimer (RAX)
Rackspace Hosting (NYSE:RAX) last released its quarterly earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $522.80 million for the quarter, compared to the consensus estimate of $521.53 million. Rackspace Hosting's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share.
Other equities analysts also recently issued research reports about the stock. RBC Capital reissued a "buy" rating on shares of Rackspace Hosting in a research note on Saturday, January 16th. Evercore ISI reissued a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Credit Suisse reissued a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Cowen and Company reissued a "buy" rating and issued a $52.00 price objective (up previously from $48.00) on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Finally, Barclays downgraded shares of Rackspace Hosting from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $35.00 to $21.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating an d two have assigned a strong buy rating to the stock. The company has an average rating of "Buy" and an average price target of $33.50.
Shares of Rackspace Hosting (NYSE:RAX) traded down 4.63% during trading on Friday, reaching $20.18. The company had a trading volume of 3,210,945 shares. The company's 50 day moving average is $20.13 and its 200-day moving average is $26.13. The stock has a market capitalization of $2.69 billion and a price-to-earnings ratio of 22.42. Rackspace Hosting has a 1-year low of $15.05 and a 1-year high of $56.20.
A number of hedge funds and institutional investors have modified their holdings of RAX. Nordea Investment Management AB increased its position in shares of Rackspace Hosting by 3,799.7% in the fourth quarter. Nordea Investment Management AB now owns 123,700 shares of the hosting company's stock valued at $3,132,000 after buying an additional 120,528 shares during the last quarter. Acadian Asset Management increased its position in shares of Rackspace Hosting by 3,208,917.7% in the fourth quarter. Acadian Asset Management now owns 1,989,591 shares of the hosting company's stock valued at $50,375,000 after buying an additional 1,989,529 shares during the last quarter. LGT Capital Partners acquired a new position in shares of Rackspace Hosting during the fourth quarter valued at about $9,879,000. Finally, Janus Capital Management increased its position in shares of Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management now owns 825,700 shares of the host ing company's stock valued at $20,378,000 after buying an additional 12,732 shares during the last quarter.
Rackspace Hosting, Inc (NYSE:RAX) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds.
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Source: FY2016 Earnings Estimate for Rackspace Hosting, Inc. Issued By Oppenheimer (RAX)
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