Rackspace Hosting’s Hold Rating Reaffirmed at Canaccord Genuity (RAX)
Rackspace Hosting (NYSE:RAX)‘s stock had its “hold” rating reaffirmed by analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. They currently have a $35.00 price objective on the stock. Canaccord Genuity’s price objective suggests a potential upside of 11.79% from the stock’s previous close.
A number of other analysts have also recently weighed in on RAX. Analysts at JPMorgan Chase & Co. raised their price target on shares of Rackspace Hosting from $35.00 to $37.00 in a research note on Tuesday. Separately, analysts at Piper Jaffray cut their price target on shares of Rackspace Hosting from $45.00 to $43.00 in a research note on Tuesday. Finally, analysts at Davidson upgraded shares of Rackspace Hosting to a “neutral” rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Rackspace Hosting has an average rating of “Hold” and a consensus price target of $40.58.
Shares of Rackspace Hosting (NYSE:RAX) opened at 31.31 on Tuesday. Rackspace Hosting has a one year low of $26.18 and a one year high of $54.20. The stock has a 50-day moving average of $32.58 and a 200-day moving average of $33.6. The company has a market cap of $4.448 billion and a P/E ratio of 52.18. Rackspace Hosting also was the target of some unusual options trading on Monday. Stock traders bought 11,336 call options on the company. This is an increase of approximately 250% compared to the typical volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, August 11th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16. The company had revenue of $441.10 million for the quarter, compared to the consensus estimate of $437.00 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts expect that Rackspace Hosting will post $0.69 EPS 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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