Rackspace Hosting, Inc. (NYSE:RAX) Receives $39.63 Consensus Target Price from Analysts

Rackspace Hosting, Inc. (NYSE:RAX) has received an average recommendation of “Hold” from the twenty-seven analysts that are presently covering the company, Market Beat Ratings reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.63.

A number of equities research analysts have weighed in on RAX shares. Oppenheimer initiated coverage on shares of Rackspace Hosting in a report on Tuesday, November 10th. They issued a “buy” rating and a $43.00 target price for the company. Stifel Nicolaus reissued a “buy” rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Bank of America raised shares of Rackspace Hosting from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $47.00 to $38.00 in a report on Monday, November 2nd. Credit Suisse reissued a “buy” rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Finally, Cowen and Company reissued a “buy” rating and set a $52.00 price objective (up previously from $48.00) on shares of Rackspace Hosting in a report on Tuesday, November 10th.

Rackspace Hosting (NYSE:RAX) traded down 2.53% during mid-day trading on Monday, reaching $24.68. The company had a trading volume of 432,561 shares. Rackspace Hosting has a 12-month low of $23.65 and a 12-month high of $56.20. The stock has a 50-day moving average of $26.68 and a 200 day moving average of $30.10. The company has a market capitalization of $3.32 billion and a price-to-earnings ratio of 26.83.

Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Monday, November 9th. The hosting company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm earned $509 million during the quarter, compared to analysts’ expectations of $503.08 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Rackspace Hosting’s revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Rackspace Hosting will post $0.89 EPS for the current year.

In other Rackspace Hosting news, CEO Taylor Rhodes sold 3,866 shares of the business’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $27.71, for a total value of $107,126.86. Following the transaction, the chief executive officer now directly owns 261,674 shares in the company, valued at approximately $7,250,986.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Tiffany Lathe sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $29.66, for a total transaction of $133,470.00. Following the completion of the transaction, the vice president now owns 35,564 shares in the company, valued at $1,054,828.24. The disclosure for this sale can be found here.

12 Month Chart for NYSE:RAX

Rackspace Hosting, Inc. (NYSE:RAX) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds. It also offers advisory services for technology strategy, security and compliance, application assessment and migration, and DevOps automation. The Company also offers its solutions across a variety of IT form factors, including multi-tenant public cloud, dedicated single-tenant servers, private cloud, and hybrid cloud. It also delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States, as well as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.

 

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