Best Cheap Web Hosting: Rackspace Hosting, Inc. (NYSE:RAX) Receives Average Rating of â€œBuyâ€ from Brokerages

Rackspace Hosting, Inc. (NYSE:RAX) Receives Average Rating of "Buy" from Brokerages April 27th, 2016 - 0 comments - Filed Under - by Kyle Jackson Tweet

Rackspace Hosting, Inc. (NYSE:RAX) has been given an average rating of "Hold" by the twenty-seven ratings firms that are covering the company, Analyst Ratings Network.com reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, eight have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $31.04.

Several large investors have modified their holdings of RAX. LGT Capital Partners acquired a new stake in shares of Rackspace Hosting during the fourth quarter valued at $9,879,000. Nordea Investment Management AB increased its stake 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 last quarter. Russell Frank Co increased its stake in shares of 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. 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 valued at $50,375,000 after buying an additional 1,989,529 shares during the last quarter. Finally, 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 valued at $20,378,000 after buying an additional 12,732 shares during the last quarter.

RAX has been the subject of several research analyst reports. JMP Securities cut their price objective on Rackspace Hosting from $55.00 to $44.00 in a report on Tuesday, February 16th. Goldman Sachs cut their price objective on Rackspace Hosting from $27.00 to $24.00 in a report on Monday, February 1st. RBC Capital reaffirmed a "buy" rating on shares of Rackspace Hosting in a report on Saturday, January 16th. Cowen and Company reaffirmed a "buy" rating and issued a $36.00 price objective (down previously from $52.00) on shares of Rackspace Hosting in a report on Wednesday, February 17th. Finally, Vetr lowered Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $22.01 price objective for the company. in a report on Thursday, February 18th.

Shares of Rackspace Hosting (NYSE:RAX) traded down 0.45% during midday trading on Wednesday, reaching $24.07. 850,561 shares of the company's stock were exchanged. The stock has a market cap of $3.15 billion and a PE ratio of 26.74. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $55.35. The company's 50 day moving average is $22.30 and its 200-day moving average is $23.48.

Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.23 by $0.01. The firm earned $522.80 million during the quarter, compared to the consensus estimate of $521.53 million. The business's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts forecast that Rackspace Hosting will post $0.96 EPS for the current fiscal year.

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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