Rackspace Hosting, Inc. (NYSE:RAX) operates in the managed cloud section of the company information technology (IT) marketplace.
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ALSO READ: 6 Analyst Stock Picks Called to Rise 50% to 100%. Institutional Investors own 84.2% of Company shares. The 50-Day Moving Average price is $36.04 and the 200 Day Moving Average price is recorded at $45.29. On an intraday basis it has gotten as low as $113.71 and as high as $118.18.
RAX reported last quarter earnings on August 10.
For Q2, Rackspace reported profit of 20 cents, up 25% from the year-earlier quarter and in line with analyst views.
Revenue rose 10.9 percent to US$489.4 million.
Analysts polled by Thomson Reuters expected the company to earn $0.20 per share on revenue of $490.54 million for the second quarter.
Shares of Rackspace were up fractionally at $32.32 Monday morning. Raymond James upgraded shares of Rackspace Hosting from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday. The lowest analyst target sees the stock at $35 over the same time period. Stifel Nicolaus cut their price target on shares of Rackspace Hosting from $60.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday. Oppenheimer reduced their price target on Rackspace Hosting from $55.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday. Of those twenty-three, eleven have a Buy rating, eleven have a Hold rating and one has a Sell rating. Rackspace Hosting, Inc (NYSE:RAX): On Friday heightened volatility was witnessed in Rackspace Hosting, Inc (NYSE:RAX) which led to swings in the share price.
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[Market Wired] Rackspace Hosting Inc (NYSE:RAX) (TREND ANALYSIS) announced financial results for the quarter that ended June 30, 2015. The Organization offers a portfolio of integrated IT solutions for common business wants, including for e commerce, Web content management, office post, info services, Website hosting and cooperation, and clouds that are private. In addition, it offers advisory services for technology strategy, security and conformity, application evaluation and migration, and DevOps automation. The equipment – including servers, routers, switches, firewalls, load balancers, cabinets, software and wiring – that is required to deliver services is typically purchased and managed by the company.
