Rackspace Hosting Inc. (NYSE:RAX)’s share price traded up 14.6% during mid-day 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.

Several equities analysts have recently issued reports on the stock. Pacific Crest reaffirmed a “hold” rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Credit Suisse Group AG reissued a “neutral” rating and issued a $20.00 target price on shares of Rackspace Hosting in a research report on Tuesday, May 10th. SunTrust Banks Inc. started coverage on shares of Rackspace Hosting in a research report on Thursday, July 21st. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, Vetr raised shares of Rackspace Hosting from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Rackspace Hosting presently has an average rating of “Hold” and an average price target of $29.74.

The firm’s 50 day moving average price is $22.71 and its 200 day moving average price is $22.11. The stock has a market cap of $3.68 billion and a price-to-earnings ratio of 27.23.

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

A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. 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 in the last quarter. Matarin Capital Management LLC acquired a new position in Rackspace Hosting during the fourth quarter worth about $1,842,000. 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 in the last quarter. 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 in the last quarter. Finally, 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 worth $8,540,000 after buying an additional 30,600 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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