Stock Traders Buy Large Volume of Call Options on Rackspace Hosting (RAX)
Shares of Rackspace Hosting (NYSE:RAX) were the target of some unusual options trading activity on Monday. Stock traders acquired 26,725 call options on the company, AnalystRatingsNetwork reports. This represents an increase of 452% compared to the average volume of 4,844 call options.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Rackspace Hosting in a research note to investors on Friday. They set an “outperform” rating and a $49.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Rackspace Hosting from $46.00 to $40.00 in a research note to investors on Thursday. Finally, analysts at Jefferies Group initiated coverage on shares of Rackspace Hosting in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $52.78.
Rackspace Hosting (NYSE:RAX) traded up 2.15% during mid-day trading on Monday, hitting $40.36. 6,773,006 shares of the company’s stock traded hands. Rackspace Hosting has a 1-year low of $32.62 and a 1-year high of $75.37. The stock’s 50-day moving average is $37.32 and its 200-day moving average is $43.79. The company has a market cap of $5.643 billion and a P/E ratio of 58.97.
Rackspace Hosting (NYSE:RAX) last released its earnings data on Monday, February 10th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $408.00 million for the quarter, compared to the consensus estimate of $404.56 million. On average, analysts predict that Rackspace Hosting will post $0.61 earnings per share for the current fiscal year.
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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