Rackspace Hosting Inc. (NYSE:RAX) was down 2.5% on Friday . The company traded as low as $29.25 and last traded at $29.26, with a volume of 1,532,897 shares trading hands. The stock had previously closed at $30.01.

A number of equities research analysts recently weighed in on RAX shares. Vetr raised shares of Rackspace Hosting from a “hold” rating to a “strong-buy” rating and set a $27.56 target price on the stock in a research note on Tuesday, April 19th. Zacks Investment Research downgraded shares of Rackspace Hosting from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. Raymond James Financial Inc. downgraded shares of Rackspace Hosting from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $28.00 to $25.00 in a research note on Tuesday, May 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $20.00 price target 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 issued a hold rating and nine have assigned a buy rating to the company’s stock. Rackspace Hosting has an average rating of “Hold” and a consensus target price of $27.97.

The firm has a market cap of $3.68 billion and a PE ratio of 25.75. The company’s 50 day moving average price is $23.56 and its 200 day moving average price is $22.45.

Rackspace Hosting (NYSE:RAX) last released its quarterly earnings results on Monday, August 8th. The hosting company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.16. During the same quarter in the previous year, the company posted $0.20 EPS. The company had revenue of $489.40 million for the quarter, compared to analysts’ expectations of $521.07 million. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Rackspace Hosting Inc. will post $1.07 earnings per share for the current year.

A number of hedge funds recently added to or reduced their stakes in RAX. Matarin Capital Management LLC bought a new stake in Rackspace Hosting during the fourth quarter valued at $1,842,000. Cornerstone Capital Management Holdings LLC. raised its stake 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 during the last quarter. KBC Group NV raised its stake in Rackspace Hosting by 768.1% in the fourth quarter. KBC Group NV now owns 166,109 shares of the hosting company’s stock valued at $4,206,000 after buying an additional 146,974 shares during the last quarter. Finally, River Road Asset Management LLC bought a new stake in Rackspace Hosting during the fourth quarter valued at $8,634,000.

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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