Rackspace Hosting Inc. (NYSE:RAX) saw strong trading volume on Thursday . 4,362,231 shares traded hands during 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.

A number of equities analysts recently commented on the stock. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Rackspace Hosting in a research note on Saturday, June 4th. William Blair cut shares of Rackspace Hosting from an “outperform” rating to a “market perform” rating in a research report on Friday. JMP Securities cut shares of Rackspace Hosting from an “outperform” rating to a “market perform” rating in a research report on Friday. Cowen and Company cut shares of Rackspace Hosting from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rackspace Hosting in a research report on Friday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.97.

The company has a market capitalization of $3.96 billion and a P/E ratio of 27.73. The firm has a 50-day moving average price of $25.81 and a 200-day moving average price of $23.12.

Rackspace Hosting (NYSE:RAX) last released its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 earnings per share 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 analyst estimates of $521.07 million. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. On average, equities analysts predict that Rackspace Hosting Inc. will post $1.07 EPS for the current fiscal year.

An institutional investor recently bought a new position in Rackspace Hosting stock. Matarin Capital Management LLC acquired a new position in Rackspace Hosting Inc. (NYSE:RAX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 72,759 shares of the hosting company’s stock, valued at approximately $1,842,000. Matarin Capital Management LLC owned approximately 0.05% of Rackspace Hosting at the end of the most recent reporting period.

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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