Rackspace Hosting Inc. (NYSE:RAX) saw unusually-strong trading volume on Thursday . Approximately 4,362,231 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 2,636,745 shares.The stock last traded at $30.19 and had previously closed at $27.55.

Several equities analysts recently commented on RAX shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Rackspace Hosting in a research report on Saturday, June 4th. Vetr lowered shares of Rackspace Hosting from a “strong-buy” rating to a “buy” rating and set a $27.60 price objective for the company. in a research report on Wednesday, June 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 price objective on shares of Rackspace Hosting 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 given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.97.

The firm’s 50-day moving average price is $25.51 and its 200 day moving average price is $23.03. The stock has a market cap of $3.80 billion and a P/E ratio of 26.58.

Rackspace Hosting (NYSE:RAX) last released its earnings results on Monday, August 8th. The hosting company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.16. During the same period in the previous year, the firm posted $0.20 EPS. The company earned $489.40 million during the quarter, compared to analyst estimates of $521.07 million. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts forecast that Rackspace Hosting Inc. will post $1.07 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Rackspace Hosting stock. KBC Group NV increased its position in shares of Rackspace Hosting Inc. (NYSE:RAX) by 768.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,109 shares of the hosting company’s stock after buying an additional 146,974 shares during the period. KBC Group NV owned about 0.12% of Rackspace Hosting worth $4,206,000 as of its most recent SEC filing.

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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