Canaccord Genuity Reiterates Hold on Rackspace Hosting (RAX)
Rackspace Hosting opened at 51.46 on Tuesday. Rackspace Hosting has a 52-week low of $30.34 and a 52-week high of $60.00. The company has a market cap of $6.847 billion and a price-to-earnings ratio of 85.04.
Rackspace Hosting last posted its quarterly earnings results on Monday, May 7th. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.01. Rackspace Hosting’s revenue was up 30.9% compared to the same quarter last year. Analysts expect that Rackspace Hosting will post $0.21 EPS next quarter.
RAX has been the subject of a number of other recent research reports. Analysts at Benchmark Co. raised their price target on shares of Rackspace Hosting from $60.00 to $66.00 in a research note to investors on Monday, April 9th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs (NYSE: GS) downgraded shares of Rackspace Hosting from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, March 22nd. They now have a $57.00 price target on the stock. Finally, analysts at Jefferies Group (NYSE: JEF) initiated coverage on shares of Rackspace Hosting in a research note to investors on Wednesday, March 21st. They set a “buy” rating and a $64.00 price target on the stock.
Rackspace Hosting, Inc. (Rackspace Hosting) operates in the hosting and cloud computing industry. Rackspace Hosting offers its products under the Fanatical Support brand.