Rackspace Hosting (NYSE:RAX) COO Mark Roenigk sold 5,594 shares of Rackspace Hosting stock on the open market in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.29, for a total value of $270,134.26. Following the completion of the transaction, the chief operating officer now directly owns 31,641 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on RAX shares. Analysts at RBC Capital raised their price target on shares of Rackspace Hosting from $40.00 to $46.00 in a research note to investors on Monday. They now have a “sector perform” rating on the stock. Separately, analysts at FBN Securities raised their price target on shares of Rackspace Hosting from $35.00 to $42.00 in a research note to investors on Friday. They now have an “underperform” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Rackspace Hosting from $45.00 to $51.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock.
Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $56.13.
Shares of Rackspace Hosting (NYSE:RAX) traded down 0.84% during mid-day trading on Tuesday, hitting $47.11. Rackspace Hosting has a 52 week low of $33.91 and a 52 week high of $81.36. The stock’s 50-day moving average is currently $43.00. The company has a market cap of $6.502 billion and a P/E ratio of 63.43.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $372.27 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts expect that Rackspace Hosting will post $0.68 EPS for the current fiscal year.
Rackspace Hosting, Inc, is the open cloud company. The Company offers a diverse portfolio of cloud computing services, including public, dedicated and private cloud, and hybrid hosting.
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