Rackspace Hosting, Inc. (RAX) Upgraded by Vetr Inc. to Hold
A number of institutional investors have modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in shares of Rackspace Hosting by 106.0% in the first quarter. Envestnet Asset Management Inc. now owns 6,980 shares of the hosting company's stock valued at $151,000 after buying an additional 3,592 shares during the last quarter. BlueMountain Capital Management LLC boosted 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 valued at $291,000 after buying an additional 6,241 shares during the period. Aperio Group LLC boosted 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 valued at $419,000 after buying an additional 2,813 shares during the period. Ramsey Quantitative Systems boosted its stake in shares of Rackspace Hosting by 10.7% in the first quarter. Ramsey Quantitative Systems now owns 21,073 shares of the hosting company's stock valued at $455,000 after buying an additional 2,034 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Rackspace Hosting by 55.3% in the first quarter. Squarepoint Ops LLC now owns 24,325 shares of the hosting company's stock valued at $525,000 after buying an additional 8,657 shares during the period.
Shares of Rackspace Hosting (NYSE:RAX) opened at 22.79 on Monday. The company's 50-day moving average price is $23.65 and its 200 day moving average price is $22.74. The stock has a market capitalization of $2.87 billion and a PE ratio of 21.20. Rackspace Hosting has a one year low of $15.05 and a one year high of $39.37.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings data on Monday, May 9th. The hosting company reported $0.34 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.22 by $0.12. During the same period in the previous year, the firm earned $0.20 earnings per share. The company had revenue of $518 million for the quarter, compared to analysts' expectations of $519.08 million. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Rackspace Hosting will post $1.09 EPS for the current year.
Several other brokerages also recently weighed in on RAX. Wells Fargo reaffirmed a buy rating on shares of Rackspace Hosting in a report on Saturday, June 4th. Zacks Investment Research upgraded shares of 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 report on Tuesday, May 10th. Pacific Crest reiterated a hold rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, RBC Capital reissued a buy rating and set a $26.00 price target on shares of Rackspace Hosting in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Rackspace Hosting presently has an average rating of Hold and an average price target of $30.45.
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) Upgraded by Vetr Inc. to Hold
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