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Rackspace Hosting, Inc. (NYSE:RAX) – Stock analysts at William Blair reduced their FY2016 earnings estimates for Rackspace Hosting in a research note issued to investors on Tuesday, according to Zacks Investment Research. William Blair analyst J. Breen now expects that the brokerage will earn $0.92 per share for the year, down from their prior estimate of $1.00. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Rackspace Hosting's FY2016 earnings is $0.97 per share.

Other research analysts have also issued reports about the stock. Goldman Sachs dropped their price objective on shares of Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. JMP Securities dropped their price objective on shares of Rackspace Hosting from $55.00 to $44.00 in a research note on Tuesday, February 16th. Stifel Nicolaus restated a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Credit Suisse restated a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Finally, Cowen and Company reiterated a "buy" rating and set a $52.00 price target (up from $48.00) on shares of Rackspace Hosting in a research note on Tuesday, November 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. The company presently has a consens us rating of "Buy" and a consensus price target of $33.50.

Rackspace Hosting (NYSE:RAX) opened at 20.03 on Friday. The stock has a market cap of $2.67 billion and a P/E ratio of 22.26. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $56.20. The company's 50-day moving average price is $19.97 and its 200-day moving average price is $26.02.

Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, topping the Zacks' consensus estimate of $0.23 by $0.01. The company had revenue of $522.80 million for the quarter, compared to analysts' expectations of $521.53 million. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS.

A number of institutional investors recently modified their holdings of the company. Nordea Investment Management AB raised 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 period. LGT Capital Partners bought a new position in shares of Rackspace Hosting during the fourth quarter valued at approximately $9,879,000. Janus Capital Management raised its position in shares of Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management now owns 825,700 shares of the hosting company's stock valued at $20,378,000 after buying an additional 12,732 shares during the period. Finally, Acadian Asset Management raised 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 st ock valued at $50,375,000 after buying an additional 1,989,529 shares during the period.

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 EPS Estimates for Rackspace Hosting, Inc. Reduced by William Blair (RAX)