Investors Sell Rackspace Hosting Inc. (RAX) on Strength (RAX)
Traders sold shares of Rackspace Hosting Inc. (NYSE:RAX) on strength during trading on Friday. $127.24 million flowed into the stock on the tick-up and $286.70 million flowed out of the stock on the tick-down, for a money net flow of $159.46 million out of the stock. Of all equities tracked, Rackspace Hosting had the 0th highest net out-flow for the day. Rackspace Hosting traded up $1.31 for the day and closed at $31.50
A number of research analysts have recently weighed in on RAX shares. Zacks Investment Research lowered Rackspace Hosting from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and issued a $23.00 price objective on shares of Rackspace Hosting in a report on Wednesday, August 10th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Rackspace Hosting in a report on Wednesday, August 10th. Vetr lowered Rackspace Hosting from a “buy” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Tuesday, June 7th. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Rackspace Hosting in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Rackspace Hosting currently has a consensus rating of “Hold” and an average price target of $27.97.
The company has a 50-day moving average price of $25.81 and a 200 day moving average price of $23.12. The company has a market cap of $3.96 billion and a PE ratio of 27.73.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Analysts forecast that Rackspace Hosting Inc. will post $1.07 EPS for the current year.
An institutional investor recently bought a new position in Rackspace Hosting stock. Matarin Capital Management LLC bought a new stake in Rackspace Hosting Inc. (NYSE:RAX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 72,759 shares of the hosting company’s stock, valued at approximately $1,842,000. Matarin Capital Management LLC owned 0.05% of Rackspace Hosting at the end of the most recent 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.