Sell-side Wall Street analysts are anticipating Rackspace Hosting, Inc (NYSE:RAX) will post a current quarter earnings per share of $0.21. Additionally, adjusted earnings per share came in at $0.26, beating the Street’s estimate of $0.20.
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The company reported over $509 million in total revenues, surpassing its $503 million consensus estimate. Vetr cut shares of Rackspace Hosting from a “strong-buy” rating to a “hold” rating and set a $36.00 price objective on the stock.in a report on Wednesday, July 22nd.
Rackspace Hosting, Inc (NYSE:RAX): The mean short term price target for Rackspace Hosting, Inc (NYSE:RAX) has been established at $39.62 per share. Wells Fargo reaffirmed an “outperform” rating on shares of Rackspace Hosting in a research note on Tuesday, July 14th. Bank of America upgraded shares of Rackspace Hosting from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $47.00 to $38.00 in a research report on Monday, November 2nd.
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. The shares closed down 1.19 points or 4.21% at $27.09 with 3,957,468 shares getting traded. On April 27, 2015, the shares registered one year high at $56.20 and the one year low was seen on Oct 2, 2015.
The company’s 50 day moving average is $26.52 and its 200-day moving average is $35.36. About 5.5 million shares of Rackspace Hosting were traded by 10.53 a.m. ET Tuesday, above the company’s average trading volume of about 2.6 million shares a day. They rose $2.15, or 8 percent, to $29.24 in extended trading following the release of the earnings report.
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Rackspace also reached out to Adobe cloud users with a Managed Cloud offering optimized for Adobe’s Experience Manager content management platform for building websites and mobile apps. In September the company signed up to resell AWS Managed Services. The Companys new business unit includes Cloud Office.
