http://www.americanbankingnews.com/getthestreet reaffirmed their buy rating on shares of Rackspace Hosting (NYSE: RAX) in a research note released on Friday morning.
“Rackspace Hosting (RAX) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company’s strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
,” TheStreet’s analyst commented.
Shares of Rackspace Hosting traded up 1.69% during mid-day trading on Friday, hitting $57.15. Rackspace Hosting has a one year low of $40.57 and a one year high of $81.36. The stock’s 50-day moving average is currently $68.71. The company has a market cap of $7.833 billion and a P/E ratio of 74.93.
A number of other firms have also recently commented on RAX. Analysts at Pacific Crest cut their price target on shares of Rackspace Hosting from $77.00 to $61.00 in a research note to investors on Wednesday, February 27th. They now have an outperform rating on the stock. Separately, analysts at Piper Jaffray cut their price target on shares of Rackspace Hosting to $71.00 in a research note to investors on Friday, February 22nd. Finally, analysts at JPMorgan Chase cut their price target on shares of Rackspace Hosting to $75.00 in a research note to investors on Friday, February 22nd.
Nine investment analysts have rated the stock with a buy rating, one has assigned an overweight rating, and eleven have assigned a hold rating to the company’s stock. The stock presently has an average rating of overweight and an average target price of $67.86.
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