Rackspace Hosting (RAX) Releases Quarterly Earnings Results, Meets Expectations
Rackspace Hosting (NYSE:RAX) issued its quarterly earnings data on Monday. The company reported $0.16 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.16, Stock Ratings Network reports. The company had revenue of $441.10 million for the quarter, compared to the consensus estimate of $437.00 million.
Several analysts have recently commented on the stock. Analysts at Davidson upgraded shares of Rackspace Hosting to a “neutral” rating in a research note on Monday, July 14th. On the ratings front, 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. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Rackspace Hosting presently has a consensus rating of “Hold” and a consensus target price of $40.58.
Rackspace Hosting (NYSE:RAX) traded up 3.10% on Monday, hitting $31.31. 4,796,394 shares of the company’s stock traded hands. Rackspace Hosting has a 1-year low of $26.18 and a 1-year high of $54.20. The stock has a 50-day moving average of $32.74 and a 200-day moving average of $33.75. The company has a market cap of $4.448 billion and a P/E ratio of 50.62. Rackspace Hosting also was the recipient of some unusual options trading activity on Monday. Stock traders bought 11,336 call options on the stock. This represents an increase of 250% compared to the average daily volume of 3,241 call options.
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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