Rackspace Hosting, Inc. (RAX) Set to Announce Earnings on Tuesday
Rackspace Hosting, Inc. (NYSE:RAX) opened at 16.76 on Friday. The firm has a 50-day moving average of $20.98 and a 200-day moving average of $26.63. Rackspace Hosting, Inc. has a 52 week low of $16.38 and a 52 week high of $56.20. The company has a market capitalization of $2.26 billion and a PE ratio of 18.22.
Several brokerages have weighed in on RAX. Needham & Company LLC reiterated a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Evercore ISI reiterated a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Stifel Nicolaus reiterated a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Credit Suisse reiterated a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, November 10th. Finally, Oppenheimer began coverage on shares of Rackspace Hosting in a research note on Tuesday, November 10th. They issued a "buy" rating and a $43.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. The company presently has an average rating of "Buy" and a con sensus price target of $40.27.
In related news, CEO Taylor Rhodes sold 3,866 shares of the stock in a transaction on Monday, November 16th. The shares were sold at an average price of $27.71, for a total transaction of $107,126.86. Following the transaction, the chief executive officer now directly owns 261,674 shares of the company's stock, valued at $7,250,986.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
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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