Rackspace Hosting Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:RAX)
Rackspace Hosting (NYSE:RAX) has earned an average rating of “Hold” from the nineteen ratings firms that are presently covering the stock, AR Network reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $41.04.
Rackspace Hosting (NYSE:RAX) traded up 0.91% during mid-day trading on Wednesday, hitting $31.09. 407,629 shares of the company’s stock traded hands. Rackspace Hosting has a 52 week low of $26.18 and a 52 week high of $54.20. The stock has a 50-day moving average of $34.3 and a 200-day moving average of $34.09. The company has a market cap of $4.417 billion and a price-to-earnings ratio of 51.35.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.06. The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $419.63 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. On average, analysts predict that Rackspace Hosting will post $0.68 earnings per share for the current fiscal year.
RAX has been the subject of a number of recent research reports. Analysts at Davidson upgraded shares of Rackspace Hosting to a “neutral” rating in a research note on Monday, July 14th. Separately, analysts at DA Davidson upgraded shares of Rackspace Hosting from an “underperform” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $33.00 price target on the stock, down previously from $43.00. They noted that the move was a valuation call.
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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