Q3 2016 EPS Estimates for Rackspace Hosting Inc. Raised by William Blair (RAX)
RAX has been the subject of several other reports. Vetr raised shares of Rackspace Hosting from a "hold" rating to a "strong-buy" rating and set a $27.56 price objective for the company in a report on Tuesday, April 19th. Zacks Investment Research downgraded shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a report on Wednesday, July 20th. Wells Fargo & Co. reaffirmed an "outperform" rating on shares of Rackspace Hosting in a report on Tuesday, May 10th. Raymond James Financial Inc. downgraded shares of Rackspace Hosting from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $28.00 to $25.00 in a report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a "hold" rating and set a $23.00 price objective on shares of Rackspace Hosting in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issue d a buy rating and one has given a strong buy rating to the stock. Rackspace Hosting currently has an average rating of "Hold" and a consensus target price of $27.97.
Shares of Rackspace Hosting (NYSE:RAX) opened at 29.25 on Thursday. The company's 50 day moving average is $23.56 and its 200-day moving average is $22.45. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $32.14. The company has a market cap of $3.69 billion and a P/E ratio of 25.75.
Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.16. During the same period in the prior year, the company earned $0.20 EPS. The business had revenue of $489.40 million for the quarter, compared to the consensus estimate of $521.07 million. Rackspace Hosting's quarterly revenue was up 7.0% on a year-over-year basis.
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: Q3 2016 EPS Estimates for Rackspace Hosting Inc. Raised by William Blair (RAX)
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