Canaccord Genuity Reiterates Hold on Rackspace Hosting (RAX)

By admin | 6 years ago

Rackspace Hosting (NYSE: RAX)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a report issued on Tuesday.

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.

About the author