Rackspace Hosting Upgraded to “Outperform” by Oppenheimer (RAX)
Rackspace Hosting (NYSE:RAX) was upgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Rackspace Hosting (NYSE:RAX) opened at 50.86 on Wednesday. Rackspace Hosting has a one year low of $33.91 and a one year high of $81.36. The stock’s 50-day moving average is $46.33 and its 200-day moving average is $44.94. The company has a market cap of $7.066 billion and a price-to-earnings ratio of 67.90.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.05. The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $372.27 million. During the same quarter last year, the company posted $0.18 earnings per share. Rackspace Hosting’s revenue was up 17.9% compared to the same quarter last year. On average, analysts predict that Rackspace Hosting will post $0.68 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Rackspace Hosting from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, October 15th. They now have a $47.50 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Rackspace Hosting from $40.00 to $46.00 in a research note to investors on Monday, August 12th. They now have a “sector perform” rating on the stock. Finally, analysts at FBN Securities raised their price target on shares of Rackspace Hosting from $35.00 to $42.00 in a research note to investors on Friday, August 9th. They now have an “underperform” rating on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Rackspace Hosting currently has an average rating of “Hold” and a consensus price target of $55.58.
Rackspace Hosting, Inc, is the open cloud company. The Company offers a diverse portfolio of cloud computing services, including public, dedicated and private cloud, and hybrid hosting.
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