Rackspace Hosting Inc. (NYSE:RAX) was down 1.4% during mid-day 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 traded. The stock had previously closed at $28.17.

Several equities research analysts have recently issued reports on RAX shares. Zacks Investment Research downgraded shares of Rackspace Hosting from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Vetr downgraded shares of Rackspace Hosting from a “strong-buy” rating to a “buy” rating and set a $24.00 price objective for the company. in a research report on Monday, July 11th. Jefferies Group reissued a “hold” rating and set a $23.00 price objective on shares of Rackspace Hosting in a research report on Wednesday, August 10th. RBC Capital Markets reissued an “outperform” rating and set a $33.00 price objective (up previously from $26.00) on shares of Rackspace Hosting in a research report on Thursday, August 11th. Finally, Raymond James Financial Inc. downgraded shares of Rackspace Hosting from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $28.00 to $25.00 in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. Rackspace Hosting has an average rating of “Hold” and a consensus target price of $27.97.

The company has a 50-day moving average price of $24.76 and a 200-day moving average price of $22.80. The firm has a market cap of $3.47 billion and a price-to-earnings ratio of 24.30.

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

Other hedge funds have recently bought and sold shares of the company. River Road Asset Management LLC purchased a new stake in Rackspace Hosting during the fourth quarter valued at about $8,634,000. 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, Matarin Capital Management LLC purchased a new stake in Rackspace Hosting during the fourth quarter valued at about $1,842,000.

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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