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Rackspace Hosting, Inc. (NYSE:RAX) has earned a consensus rating of "Buy" from the twenty-six research firms that are presently covering the firm, AnalystRatings.NET reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $38.88.

A number of brokerages have weighed in on RAX. Zacks Investment Research cut Rackspace Hosting from a "hold" rating to a "sell" rating in a research note on Sunday, January 24th. RBC Capital reduced their price objective on Rackspace Hosting from $36.00 to $31.00 and set an "outperform" rating for the company in a research note on Friday, January 15th. Goldman Sachs reduced their price objective on Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. Bank of America upgraded Rackspace Hosting from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $47.00 to $38.00 in a research note on Monday, November 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th.

Rackspace Hosting (NYSE:RAX) traded up 5.19% on Monday, hitting $17.63. 1,448,684 shares of the stock were exchanged. Rackspace Hosting has a 52-week low of $16.38 and a 52-week high of $56.20. The stock's 50 day moving average price is $20.72 and its 200 day moving average price is $26.51. The firm has a market cap of $2.37 billion and a PE ratio of 19.16.

Other institutional investors have added to or reduced their stakes in the company. Fox Run Management acquired a new position in Rackspace Hosting during the fourth quarter valued at $375,000. Nordea Investment Management AB increased its position in 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 acquired a new position in Rackspace Hosting during the fourth quarter valued at $9,879,000. Janus Capital Management increased its position in 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 increased its position in 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 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: Rackspace Hosting, Inc. (NYSE:RAX) Given Consensus Recommendation of "Buy" by Brokerages