Rackspace Hosting Inc. (NYSE:RAX) shares rose 14.6% during trading on Thursday . The stock traded as high as $26.55 and last traded at $26.55, with a volume of 3,678,846 shares traded. The stock had previously closed at $23.16.

RAX has been the topic of several recent analyst reports. Vetr cut Rackspace Hosting from a “buy” rating to a “hold” rating and set a $24.45 price target on the stock. in a research note on Wednesday, April 6th. Zacks Investment Research cut Rackspace Hosting from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Wells Fargo & Co. restated an “outperform” rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Raymond James Financial Inc. cut Rackspace Hosting from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $28.00 to $25.00 in a research note on Tuesday, May 10th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $26.00 price objective on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.74.

The stock’s 50 day moving average price is $22.51 and its 200-day moving average price is $22.06. The firm has a market capitalization of $3.34 billion and a P/E ratio of 24.70.

Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The firm earned $518 million during the quarter, compared to the consensus estimate of $519.08 million. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. Equities research analysts expect that Rackspace Hosting Inc. will post $1.06 EPS for the current fiscal year.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Globeflex Capital L P boosted its position in 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. Matarin Capital Management LLC purchased a new position in Rackspace Hosting during the fourth quarter worth about $1,842,000. 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 worth $1,871,000 after buying an additional 22,315 shares during the period. 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 worth $2,720,000 after buying an additional 67,737 shares during the period. Finally, KBC Group NV boosted its position in Rackspace Hosting by 768.1% in the fourth quarter. KBC Group NV now owns 166,109 shares of the hosting company’s stock worth $4,206,000 after buying an additional 146,974 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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