Rackspace Hosting, Inc. (RAX) Lifted to “Hold†at Vetr Inc.
A number of institutional investors have bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in Rackspace Hosting by 106.0% in the first quarter. Envestnet Asset Management Inc. now owns 6,980 shares of the hosting company's stock worth $151,000 after buying an additional 3,592 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Rackspace Hosting by 86.1% in the first quarter. BlueMountain Capital Management LLC now owns 13,488 shares of the hosting company's stock worth $291,000 after buying an additional 6,241 shares during the period. Aperio Group LLC raised its stake in shares of Rackspace Hosting by 17.0% in the first quarter. Aperio Group LLC now owns 19,395 shares of the hosting company's stock worth $419,000 after buying an additional 2,813 shares during the period. Ramsey Quantitative Systems boosted its position in Rackspace Hosting by 10.7% in the first quarter. Ramsey Quantitative Sy stems now owns 21,073 shares of the hosting company's stock worth $455,000 after buying an additional 2,034 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Rackspace Hosting by 55.3% in the first quarter. Squarepoint Ops LLC now owns 24,325 shares of the hosting company's stock worth $525,000 after buying an additional 8,657 shares in the last quarter.
Several other research firms have also recently commented on RAX. Wells Fargo restated a "buy" rating on shares of Rackspace Hosting in a report on Saturday, June 4th. Zacks Investment Research upgraded Rackspace Hosting from a "sell" rating to a "hold" rating in a research note on Thursday, May 12th. Oppenheimer reaffirmed a "buy" rating on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Pacific Crest reaffirmed a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, RBC Capital reiterated a "buy" rating and set a $26.00 price target on shares of Rackspace Hosting in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. The stock has an average rating of "Hold" and a consensus price target of $30.45.
Shares of Rackspace Hosting (NYSE:RAX) opened at 23.08 on Monday. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $39.37. The firm's 50-day moving average price is $23.72 and its 200 day moving average price is $22.80. The firm has a market capitalization of $2.90 billion and a P/E ratio of 21.47.
Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data 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. The company had revenue of $518 million for the quarter, compared to analysts' expectations of $519.08 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Rackspace Hosting will post $1.09 earnings per share for the current fiscal year.
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. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
To view Vetr's full report, visit Vetr's official website.
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Source: Rackspace Hosting, Inc. (RAX) Lifted to "Hold" at Vetr Inc.
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