Brokerages Set Rackspace Hosting Inc. (NYSE:RAX) PT at $26.40
Shares of Rackspace Hosting Inc. (NYSE:RAX) have been assigned an average recommendation of “Hold” from the twenty-five analysts that are presently covering the stock. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.40.
A number of equities analysts recently commented on the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Rackspace Hosting in a research note on Saturday, June 4th. Zacks Investment Research upgraded Rackspace Hosting from a “sell” rating to a “hold” rating in a research note on Saturday, August 6th. Royal Bank Of Canada lifted their price target on Rackspace Hosting from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. Vetr downgraded Rackspace Hosting from a “buy” rating to a “sell” rating and set a $24.00 price target for the company. in a research note on Tuesday, June 7th. Finally, Tigress Financial downgraded Rackspace Hosting from a “strong-buy” rating to a “neutral” rating in a research note on Monday, August 29th.
A number of institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in Rackspace Hosting by 10.3% in the second quarter. Advisory Services Network LLC now owns 5,361 shares of the hosting company’s stock valued at $112,000 after buying an additional 500 shares during the last quarter. LS Investment Advisors LLC boosted its position in Rackspace Hosting by 66.2% in the second quarter. LS Investment Advisors LLC now owns 6,426 shares of the hosting company’s stock valued at $134,000 after buying an additional 2,559 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Rackspace Hosting by 20.3% in the second quarter. Advisors Asset Management Inc. now owns 6,553 shares of the hosting company’s stock valued at $137,000 after buying an additional 1,107 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Rackspace Hosting during the second quarter valued at $148,000. Finally, Envestnet Asset Management Inc. boosted its position in Rackspace Hosting by 106.0% in the first quarter. Envestnet Asset Management Inc. now owns 6,980 shares of the hosting company’s stock valued at $151,000 after buying an additional 3,592 shares during the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
Shares of Rackspace Hosting (NYSE:RAX) opened at 31.69 on Wednesday. Rackspace Hosting has a 12 month low of $15.05 and a 12 month high of $32.14. The company has a 50 day moving average price of $30.62 and a 200-day moving average price of $25.07. The firm has a market capitalization of $3.99 billion, a PE ratio of 27.90 and a beta of 1.59.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.16. The business earned $489.40 million during the quarter, compared to the consensus estimate of $521.07 million. Rackspace Hosting had a return on equity of 16.80% and a net margin of 7.39%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. Equities research analysts expect that Rackspace Hosting will post $1.07 EPS for the current fiscal year.
Rackspace Hosting Company Profile
Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
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