Rackspace Hosting Inc. (NYSE:RAX) traded up 3% during mid-day trading on Thursday . The company traded as high as $23.35 and last traded at $23.26, with a volume of 570,880 shares trading hands. The stock had previously closed at $22.59.

A number of equities research analysts recently issued reports on the stock. Vetr cut shares of Rackspace Hosting from a “strong-buy” rating to a “buy” rating and set a $27.60 price target on the stock. in a research note on Wednesday, June 1st. Wells Fargo & Co. reissued a “buy” rating on shares of Rackspace Hosting in a research note on Saturday, June 4th. Zacks Investment Research cut shares of Rackspace Hosting from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $26.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rackspace Hosting currently has an average rating of “Hold” and an average target price of $29.98.

The stock’s 50-day moving average price is $22.72 and its 200 day moving average price is $21.98. The firm has a market capitalization of $2.90 billion and a PE ratio of 21.44.

Rackspace Hosting (NYSE:RAX) last released its quarterly earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12. During the same quarter last year, the company posted $0.20 EPS. The company had revenue of $518 million for the quarter, compared to the consensus estimate of $519.08 million. The business’s revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Rackspace Hosting Inc. will post $1.10 EPS for the current fiscal year.

Several institutional investors have bought and sold shares of the company. California Public Employees Retirement System boosted its position in Rackspace Hosting by 10.0% in the fourth quarter. California Public Employees Retirement System now owns 337,300 shares of the hosting company’s stock valued at $8,540,000 after buying an additional 30,600 shares in the last quarter. Engineers Gate Manager LP boosted its position in Rackspace Hosting by 43.9% in the fourth quarter. Engineers Gate Manager LP now owns 83,125 shares of the hosting company’s stock valued at $2,105,000 after buying an additional 25,356 shares in the last quarter. South Dakota Investment Council boosted its position in Rackspace Hosting by 61.8% in the fourth quarter. South Dakota Investment Council now owns 112,800 shares of the hosting company’s stock valued at $2,856,000 after buying an additional 43,100 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in 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 valued at $1,871,000 after buying an additional 22,315 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Rackspace Hosting by 170.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 107,429 shares of the hosting company’s stock valued at $2,720,000 after buying an additional 67,737 shares in the last quarter.

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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