Rackspace Hosting, Inc. (RAX) Rating Lowered to Sell at Credit Agricole
RAX has been the subject of a number of other reports. RBC Capital reduced their target price on shares of Rackspace Hosting from $36.00 to $31.00 and set an "outperform" rating for the company in a report on Friday, January 15th. Wells Fargo restated an "outperform" rating on shares of Rackspace Hosting in a research note on Monday, March 14th. Cowen and Company reaffirmed a "buy" rating and issued a $36.00 target price (down from $52.00) on shares of Rackspace Hosting in a report on Wednesday, February 17th. SunTrust reiterated a "sector weight" rating on shares of Rackspace Hosting in a research report on Wednesday, February 17th. Finally, Zacks Investment Research reissued a "hold" rating on shares of Rackspace Hosting in a report on Monday, February 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Racks pace Hosting has a consensus rating of "Buy" and a consensus target price of $33.28.
Rackspace Hosting (NYSE:RAX) opened at 21.73 on Thursday. Rackspace Hosting has a one year low of $15.05 and a one year high of $56.20. The stock has a market capitalization of $2.85 billion and a PE ratio of 24.14. The company's 50 day moving average price is $20.66 and its 200-day moving average price is $23.96.
Rackspace Hosting (NYSE:RAX) last released its quarterly earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm had revenue of $522.80 million for the quarter, compared to the consensus estimate of $521.53 million. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that Rackspace Hosting will post $0.96 earnings per share for the current year.
A number of hedge funds and institutional investors have recently made changes to their positions in RAX. U S Global Investors Inc. purchased a new position in shares of Rackspace Hosting during the fourth quarter valued at about $1,104,000. Globeflex Capital L P boosted its stake in shares of Rackspace Hosting by 31.2% in the fourth quarter. Globeflex Capital L P now owns 45,822 shares of the hosting company's stock valued at $1,160,000 after buying an additional 10,885 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Rackspace Hosting by 42.8% in the fourth quarter. Profund Advisors LLC now owns 59,364 shares of the hosting company's stock valued at $1,503,000 after buying an additional 17,798 shares in the last quarter. BlueMar Capital Management LLC purchased a new stake in shares of Rackspace Hosting during the fourth quarter valued at $1,583,000. Finally, Matarin Capital Management LLC purchased a new stake in shares of Rackspace H osting during the fourth quarter valued at $1,842,000.
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. (RAX) Rating Lowered to Sell at Credit Agricole
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