Rackspace Hosting, Inc. (RAX) Set to Announce Earnings on Monday
Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, beating the Zacks' consensus estimate of $0.23 by $0.01. The firm earned $522.80 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.26 EPS. On average, analysts expect Rackspace Hosting to post $0.96 EPS for the current fiscal year and $1.17 EPS for the next fiscal year.
Several research analysts recently weighed in on the stock. RBC Capital reissued a "buy" rating on shares of Rackspace Hosting in a research note on Saturday, January 16th. Bank of America reissued a "buy" rating on shares of Rackspace Hosting in a research note on Sunday, March 27th. Zacks Investment Research reissued a "hold" rating on shares of Rackspace Hosting in a research note on Monday, February 1st. Credit Suisse lowered shares of Rackspace Hosting from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $50.00 to $22.00 in a research note on Wednesday, February 17th. Finally, FBN Securities raised shares of Rackspace Hosting from an "underperform" rating to a "sector perform" rating and reduced their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, February 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating , nine have assigned a buy rating and three have given a strong buy rating to the company. Rackspace Hosting has a consensus rating of "Buy" and an average target price of $33.48.
Shares of Rackspace Hosting, Inc. (NYSE:RAX) opened at 21.85 on Friday. The company has a 50-day moving average of $22.77 and a 200-day moving average of $23.36. The firm has a market cap of $2.86 billion and a P/E ratio of 24.28. Rackspace Hosting, Inc. has a 12 month low of $15.05 and a 12 month high of $54.34.
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) Set to Announce Earnings on Monday
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