Rackspace Hosting, Inc. (NYSE:RAX) Given Consensus Recommendation of “Hold†by Analysts
Rackspace Hosting (NYSE:RAX) opened at 24.05 on Monday. The company has a market capitalization of $3.15 billion and a price-to-earnings ratio of 26.72. The firm has a 50 day moving average of $21.21 and a 200-day moving average of $23.69. Rackspace Hosting has a 1-year low of $15.05 and a 1-year high of $56.20.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company earned $522.80 million during the quarter, compared to analysts' expectations of $521.53 million. Rackspace Hosting's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, equities research analysts anticipate that Rackspace Hosting will post $0.96 earnings per share for the current fiscal year.
Several research analysts have recently commented on the company. Goldman Sachs began coverage on Rackspace Hosting in a report on Sunday, December 27th. They set a "hold" rating on the stock. Vetr downgraded shares of Rackspace Hosting from a "buy" rating to a "hold" rating and set a $24.45 target price on the stock. in a research note on Wednesday. Wells Fargo reiterated an "outperform" rating on shares of Rackspace Hosting in a report on Friday, April 1st. Credit Agricole cut shares of Rackspace Hosting from an "underperform" rating to a "sell" rating and set a $17.00 price target for the company. in a research note on Thursday, March 31st. Finally, Bank of America restated a "buy" rating on shares of Rackspace Hosting in a report on Sunday, March 27th.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in RAX. 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 worth $20,378,000 after buying an additional 12,732 shares in the last quarter. LGT Capital Partners purchased a new stake in Rackspace Hosting during the fourth quarter valued at $9,879,000. Acadian Asset Management increased its stake 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 last quarter. Nordea Investment Management AB increased its stake 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 buyi ng an additional 120,528 shares during the last quarter. Finally, Russell Frank Co increased its stake in Rackspace Hosting by 500.6% in the fourth quarter. Russell Frank Co now owns 597,020 shares of the hosting company's stock valued at $15,070,000 after buying an additional 497,608 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: Rackspace Hosting, Inc. (NYSE:RAX) Given Consensus Recommendation of "Hold" by Analysts
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