Q2 2016 EPS Estimates for Rackspace Hosting, Inc. (RAX) Lowered by William Blair
Other analysts have also issued reports about the stock. JMP Securities cut their target price on shares of Rackspace Hosting from $55.00 to $44.00 in a research note on Tuesday, February 16th. Goldman Sachs cut their target price on shares of Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. RBC Capital reissued a "buy" rating on shares of Rackspace Hosting in a research note on Saturday, January 16th. Cowen and Company reissued a "buy" rating and set a $36.00 target price (down from $52.00) on shares of Rackspace Hosting in a research note on Wednesday, February 17th. Finally, Vetr lowered shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $22.01 target price for the company. in a research note on Thursday, February 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the c ompany's stock. Rackspace Hosting presently has a consensus rating of "Hold" and a consensus price target of $30.62.
Shares of Rackspace Hosting (NYSE:RAX) opened at 22.82 on Wednesday. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $44.72. The firm's 50-day moving average price is $23.11 and its 200-day moving average price is $23.27. The firm has a market cap of $2.97 billion and a PE ratio of 21.23.
Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings results on Monday, May 9th. The hosting company reported $0.34 EPS for the quarter, topping the Zacks' consensus estimate of $0.22 by $0.12. The firm had revenue of $518 million for the quarter, compared to analyst estimates of $519.08 million. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS.
Several institutional investors have made changes to their positions in RAX. Acadian Asset Management boosted its position 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 in the last quarter. Janus Capital Management boosted its position 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 in the last quarter. Russell Frank Co boosted its position 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 worth $15,070,000 after buying an additional 497,608 shares in the last quarter. DIAM Co. Ltd. boosted its position in shares of Rackspace Hosting by 902.8% in the fourth quarter. DIAM Co. Ltd. now owns 138,248 shares of the hosting company's stock worth $3,500,000 after buying an additional 124,462 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position 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 worth $3,132,000 after buying an additional 120,528 shares in 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: Q2 2016 EPS Estimates for Rackspace Hosting, Inc. (RAX) Lowered by William Blair
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