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Shares of Rackspace Hosting, Inc. (NYSE:RAX) have earned an average recommendation of "Hold" from the twenty-seven brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.37.

A number of research analysts have recently commented on RAX shares. Vetr cut Rackspace Hosting from a "sell" rating to a "strong sell" rating and set a $20.76 target price for the company. in a research note on Thursday, March 3rd. Goldman Sachs lowered their price objective on Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. Zacks Investment Research upgraded Rackspace Hosting from a "sell" rating to a "hold" rating in a research note on Sunday, February 14th. Credit Agricole cut Rackspace Hosting from an "underperform" rating to a "sell" rating and set a $17.00 price objective for the company. in a research note on Thursday, March 31st. Finally, Oppenheimer lowered their price objective on Rackspace Hosting from $43.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, February 17th.

Shares of Rackspace Hosting (NYSE:RAX) opened at 24.91 on Monday. Rackspace Hosting has a 52 week low of $15.05 and a 52 week high of $42.81. The stock has a 50 day moving average price of $23.60 and a 200-day moving average price of $23.01. The company has a market capitalization of $3.13 billion and a PE ratio of 23.17.

Rackspace Hosting (NYSE:RAX) last released its earnings results on Monday, May 9th. The hosting company reported $0.34 EPS for the quarter, beating the Zacks' consensus estimate of $0.22 by $0.12. During the same quarter in the previous year, the business earned $0.20 EPS. The firm earned $518 million during the quarter, compared to analysts' expectations of $519.08 million. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect that Rackspace Hosting will post $1.09 EPS for the current year.

Several institutional investors have made changes to their positions in RAX. Janus Capital Management increased 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 valued at $20,378,000 after buying an additional 12,732 shares during the last quarter. Nordea Investment Management AB increased 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 valued at $3,132,000 after buying an additional 120,528 shares during the last quarter. Russell Frank Co increased 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 valued at $15,070,000 after buying an additional 497,608 shares during the last quarter. Finally, Acadian Asset Management increased its position in shares o f 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.

Rackspace Hosting, Inc (Rackspace) 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) Receives $27.37 Consensus Target Price from Brokerages