Rackspace Hosting CAO Sells $10,764 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) CAO Joseph Saporito unloaded 344 shares of Rackspace Hosting stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $31.29, for a total transaction of $10,763.76. Following the sale, the chief accounting officer now directly owns 18,014 shares of the company’s stock, valued at approximately $563,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rackspace Hosting (NYSE:RAX) traded down 0.77% during mid-day trading on Friday, hitting $30.91. The stock had a trading volume of 624,320 shares. 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 $31.99 and a 200-day moving average of $33.55. The company has a market cap of $4.421 billion and a price-to-earnings ratio of 51.92.
Rackspace Hosting (NYSE:RAX) last posted its quarterly 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 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. Analysts expect that Rackspace Hosting will post $0.67 EPS for the current fiscal year.
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. Rackspace Hosting has a consensus rating of “Hold” and an average price target of $40.58.
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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