Rackspace Hosting Inc. (NYSE:RAX) was down 1.4% during trading on Thursday . The stock traded as low as $27.71 and last traded at $27.77, with a volume of 1,846,768 shares. The stock had previously closed at $28.17.

A number of equities research analysts have issued reports on the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Rackspace Hosting in a research note on Saturday, June 4th. Vetr lowered Rackspace Hosting from a “strong-buy” rating to a “buy” rating and set a $27.60 price target for the company. in a research note on Wednesday, June 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $26.00 price target on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 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 given a hold rating and nine have issued a buy rating to the stock. Rackspace Hosting presently has a consensus rating of “Hold” and an average price target of $27.97.

The company has a 50-day moving average price of $24.57 and a 200 day moving average price of $22.75. The company has a market cap of $3.49 billion and a price-to-earnings ratio of 24.45.

Rackspace Hosting (NYSE:RAX) last released its earnings results on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.16. The company had revenue of $489.40 million for the quarter, compared to analysts’ expectations of $521.07 million. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, equities research analysts anticipate that Rackspace Hosting Inc. will post $1.07 EPS for the current year.

A number of hedge funds have made changes to their positions in RAX. Matarin Capital Management LLC acquired a new stake in shares of Rackspace Hosting during the fourth quarter valued at about $1,842,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of 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. KBC Group NV boosted its stake in shares of 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 in the last quarter. Finally, River Road Asset Management LLC acquired a new stake in shares of Rackspace Hosting during the fourth quarter valued at about $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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