Rackspace Hosting (NYSE: RAX) had its target price cut by Pacific Crest from $77.00 to $61.00 in a report issued on Wednesday. They currently have an outperform rating on the stock.
Shares of Rackspace Hosting opened at 55.86 on Wednesday. Rackspace Hosting has a 52 week low of $40.57 and a 52 week high of $81.36. The stock’s 50-day moving average is currently $69.99. The company has a market cap of $7.656 billion and a P/E ratio of 74.48.
RAX has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Raymond James upgraded shares of Rackspace Hosting from a market perform rating to an outperform rating in a research note to investors on Thursday, February 14th. They now have a $67.00 price target on the stock.
Nine equities research analysts have rated the stock with a buy rating, one has given an overweight rating, and eleven have assigned a hold rating to the company. The company presently has an average rating of overweight and a consensus target price of $67.86.
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