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Rackspace Hosting, Inc. (NYSE:RAX) – Stock analysts at Oppenheimer cut their FY2018 earnings per share (EPS) estimates for Rackspace Hosting in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Oppenheimer analyst T. Horan now expects that the brokerage will post earnings per share of $1.46 for the year, down from their previous forecast of $1.67. Oppenheimer currently has a "Buy" rating on the stock.

Several other equities analysts have also commented on RAX. Bank of America reaffirmed a "buy" rating on shares of Rackspace Hosting in a research note on Sunday, March 27th. RBC Capital decreased their price target on Rackspace Hosting from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 17th. Vetr lowered Rackspace Hosting from a "buy" rating to a "hold" rating and set a $24.45 price target on the stock. in a research note on Wednesday, April 6th. Pacific Crest reiterated a "hold" rating on shares of Rackspace Hosting in a report on Tuesday. Finally, Credit Suisse reiterated a "neutral" rating and issued a $20.00 price objective on shares of Rackspace Hosting in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Rackspace Hosting currently has a consensus rating of "Hold" and an average target price of $30.62.

Rackspace Hosting (NYSE:RAX) traded down 0.48% on Thursday, hitting $22.71. 1,235,560 shares of the company's stock traded hands. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $44.69. The stock has a market cap of $2.96 billion and a P/E ratio of 21.13. The stock has a 50 day moving average price of $23.19 and a 200-day moving average price of $23.25.

Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Monday, May 9th. The hosting company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.22 by $0.12. During the same period last year, the business posted $0.20 earnings per share. The business had revenue of $518 million for the quarter, compared to analysts' expectations of $519.08 million. The company's revenue was up 7.9% compared to the same quarter last year.

Several hedge funds have recently made changes to their positions in RAX. Nordea Investment Management AB boosted 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 worth $3,132,000 after buying an additional 120,528 shares during the period. DIAM Co. Ltd. boosted its stake 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 during the period. Russell Frank Co boosted 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 worth $15,070,000 after buying an additional 497,608 shares during the period. Janus Capital Management boosted its stake in shares of Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management n ow owns 825,700 shares of the hosting company's stock worth $20,378,000 after buying an additional 12,732 shares during the period. Finally, Acadian Asset Management boosted 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 worth $50,375,000 after buying an additional 1,989,529 shares during the period.

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. to Post FY2018 Earnings of $1.46 Per Share, Oppenheimer Forecasts (RAX)