Rackspace Hosting Inc. (RAX) Shares Up 3%
A number of brokerages have recently commented on RAX. Pacific Crest reissued a "hold" rating on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Oppenheimer Holdings Inc. restated a "buy" rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Credit Suisse Group AG restated a "neutral" rating and set a $20.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Vetr upgraded Rackspace Hosting from a "hold" rating to a "buy" rating and set a $23.30 target price for the company in a research note on Thursday, March 31st. Finally, Zacks Investment Research cut Rackspace Hosting from a "hold" rating to a "sell" rating in a research note on Wednesday, April 20th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating o f "Hold" and a consensus target price of $29.98.
The stock has a market cap of $2.92 billion and a P/E ratio of 21.62. The firm's 50 day moving average is $22.82 and its 200-day moving average is $21.99.
Rackspace Hosting (NYSE:RAX) last issued its 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. The firm earned $518 million during the quarter, compared to analyst estimates of $519.08 million. During the same quarter in the previous year, the business posted $0.20 EPS. Rackspace Hosting's revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Rackspace Hosting Inc. will post $1.09 EPS for the current fiscal year.
Several hedge funds recently made changes to their positions in the company. Cowen Group Inc. increased its stake in shares of Rackspace Hosting by 0.8% in the fourth quarter. Cowen Group Inc. now owns 193,291 shares of the hosting company's stock valued at $4,894,000 after buying an additional 1,486 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Rackspace Hosting by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,050 shares of the hosting company's stock valued at $17,092,000 after buying an additional 3,824 shares during the period. Globeflex Capital L P increased its stake in shares of Rackspace Hosting by 31.2% in the fourth quarter. Globeflex Capital L P now owns 45,822 shares of the hosting company's stock valued at $1,160,000 after buying an additional 10,885 shares during the period. Profund Advisors LLC increased its stake in shares of Rackspace Hosting by 42.8% in the fourth quarter. Profund Advi sors LLC now owns 59,364 shares of the hosting company's stock valued at $1,503,000 after buying an additional 17,798 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of Rackspace Hosting by 43.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,834 shares of the hosting company's stock valued at $1,871,000 after buying an additional 22,315 shares during the period.
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.
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Source: Rackspace Hosting Inc. (RAX) Shares Up 3%
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