Rackspace Hosting, Inc. (RAX) Stake Boosted by Nordea Investment Management AB
Other hedge funds have also recently made changes to their positions in the company. LGT Capital Partners purchased a new stake in shares of Rackspace Hosting during the fourth quarter worth about $9,879,000. Janus Capital Management increased its stake 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 worth $20,378,000 after buying an additional 12,732 shares during the period. Finally, Acadian Asset Management increased its stake 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 worth $50,375,000 after buying an additional 1,989,529 shares during the period.
Shares of Rackspace Hosting, Inc. (NYSE:RAX) opened at 21.45 on Friday. Rackspace Hosting, Inc. has a 12 month low of $15.05 and a 12 month high of $56.20. The firm's 50 day moving average is $19.47 and its 200-day moving average is $25.58. The firm has a market capitalization of $2.86 billion and a PE ratio of 23.83.
Rackspace Hosting (NYSE:RAX) last issued its earnings results on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, topping the 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. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Rackspace Hosting's revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that Rackspace Hosting, Inc. will post $0.95 EPS for the current fiscal year.
A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Evercore ISI reissued a "hold" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Stifel Nicolaus reissued a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. RBC Capital lowered their price target on shares of Rackspace Hosting from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, February 17th. Finally, Credit Suisse reissued a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of "Buy" and a consensus target price of $33.4 4.
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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