Rackspace Hosting (NYSE:RAX) CEO A Lanham Napier sold 902,238 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $42.36, for a total value of $38,218,801.68. Following the completion of the transaction, the chief executive officer now directly owns 741,253 shares in the company, valued at approximately $31,399,477. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Rackspace Hosting from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $45.50 price target on the stock. Separately, analysts at Oppenheimer reiterated a “buy” rating on shares of Rackspace Hosting in a research note to investors on Tuesday. They now have a $62.00 price target on the stock. Finally, analysts at Evercore Partners cut their price target on shares of Rackspace Hosting from $56.00 to $52.50 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.57.
Rackspace Hosting (NYSE:RAX) traded up 1.30% during mid-day trading on Friday, hitting $42.21. 3,369,012 shares of the company’s stock traded hands. Rackspace Hosting has a one year low of $33.91 and a one year high of $81.36. The stock has a 50-day moving average of $49.83 and a 200-day moving average of $44.9. The company has a market cap of $5.865 billion and a P/E ratio of 55.63.
Rackspace Hosting (NYSE:RAX) last released its earnings data on Monday, November 11th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.05. The company had revenue of $389.00 million for the quarter, compared to the consensus estimate of $387.50 million. During the same quarter last year, the company posted $0.19 earnings per share. Rackspace Hosting’s revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Rackspace Hosting will post $0.61 earnings per share 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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