Rackspace Hosting Inc. (NYSE:RAX) was up 3.5% during trading on Thursday . The stock traded as high as $20.96 and last traded at $20.85, with a volume of 962,008 shares changing hands. The stock had previously closed at $20.15.

Several equities research analysts have commented on RAX shares. Vetr lowered shares of Rackspace Hosting from a “buy” rating to a “hold” rating and set a $24.45 price target on the stock. in a report on Wednesday, April 6th. Credit Agricole SA lowered shares of Rackspace Hosting from an “underperform” rating to a “sell” rating and set a $17.00 target price on the stock. in a research note on Thursday, March 31st. Wells Fargo & Co. reissued an “outperform” rating on shares of Rackspace Hosting in a research note on Monday, March 14th. Raymond James Financial Inc. lowered shares of Rackspace Hosting from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $28.00 to $25.00 in a research note on Tuesday, May 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $26.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.45.

The stock has a market capitalization of $2.72 billion and a price-to-earnings ratio of 20.09. The stock has a 50 day moving average price of $22.93 and a 200 day moving average price of $22.07.

Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $518 million for the quarter, compared to analyst estimates of $519.08 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. Analysts forecast that Rackspace Hosting Inc. will post $1.09 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have recently modified their holdings of RAX. Globeflex Capital L P raised its position in shares of Rackspace Hosting by 31.2% in the fourth quarter. Globeflex Capital L P now owns 45,822 shares of the hosting company’s stock worth $1,160,000 after buying an additional 10,885 shares during the period. Profund Advisors LLC raised its position in shares of Rackspace Hosting by 42.8% in the fourth quarter. Profund Advisors LLC now owns 59,364 shares of the hosting company’s stock worth $1,503,000 after buying an additional 17,798 shares during the period. Matarin Capital Management LLC purchased a new position in shares of Rackspace Hosting during the fourth quarter worth about $1,842,000. Liberty Mutual Group Asset Management Inc. raised its position in shares of Rackspace Hosting by 43.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,834 shares of the hosting company’s stock worth $1,871,000 after buying an additional 22,315 shares during the period. Finally, Engineers Gate Manager LP raised its position in shares of Rackspace Hosting by 43.9% in the fourth quarter. Engineers Gate Manager LP now owns 83,125 shares of the hosting company’s stock worth $2,105,000 after buying an additional 25,356 shares during the period.

Rackspace Hosting, Inc (Rackspace) 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. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.

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