Rackspace Hosting VP Sells $15,143 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) VP Tiffany Lathe unloaded 508 shares of Rackspace Hosting stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $29.81, for a total value of $15,143.48. Following the sale, the vice president now directly owns 10,759 shares in the company, valued at approximately $320,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on RAX shares. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Rackspace Hosting in a research note on Tuesday. They now have a $35.00 price target on the stock. Separately, 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. Finally, 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. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.58.
Rackspace Hosting (NYSE:RAX) traded up 1.36% during mid-day trading on Wednesday, hitting $29.90. The stock had a trading volume of 2,484,634 shares. Rackspace Hosting has a 1-year low of $26.18 and a 1-year high of $54.20. The stock’s 50-day moving average is $32.15 and its 200-day moving average is $33.57. The company has a market cap of $4.248 billion and a price-to-earnings ratio of 49.17. 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 typical daily volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, August 11th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts predict that Rackspace Hosting will post $0.67 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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