Raymond James upgraded shares of Rackspace Hosting (NYSE:RAX) from a market perform rating to an outperform rating in a report released on Monday, TheFlyOnTheWall.com reports.
Shares of Rackspace Hosting (NYSE:RAX) opened at 37.50 on Monday. 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 $46.13 and a 200-day moving average of $44.38. The company has a market cap of $5.243 billion and a price-to-earnings ratio of 55.97.
Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts predict that Rackspace Hosting will post $0.61 earnings per share for the current fiscal year.
A number of other firms have also recently commented on RAX. Analysts at Needham & Company initiated coverage on shares of Rackspace Hosting in a research note to investors on Tuesday, November 26th. They set a hold rating on the stock. Separately, analysts at Davidson initiated coverage on shares of Rackspace Hosting in a research note to investors on Friday, November 22nd. They set a neutral rating on the stock. Finally, analysts at DA Davidson initiated coverage on shares of Rackspace Hosting in a research note to investors on Friday, November 22nd. They set a neutral rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $55.67.
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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