Rackspace Hosting Inc (NYSE:RAX): 12 Analyst have given the stock of Rackspace Hosting Inc (NYSE:RAX) a near short term price target of $27. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $8.08. The higher price target estimate is at $45 while the lower price estimates are fixed at $17.
Many analysts have stated their opinion on the company shares. Brokerage firm Raymond James downgrades its rating on Rackspace Hosting Inc (NYSE:RAX). As per the latest information, the brokerage house lowers the price target to $25 per share from a prior target of $28. The shares have been rated Outperform. Previously, the analysts had a Strong Buy rating on the shares. The rating by the firm was issued on May 10, 2016. Company shares have received an average consensus rating of Hold for the current week
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (President & CEO) of Rackspace Hosting, Inc., Rhodes Taylor had sold 14,325 shares worth of $289,938 in a transaction dated January 14, 2016. In this transaction, 14,325 shares were sold at $20.24 per share.
Rackspace Hosting Inc (NYSE:RAX) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.29 points or 1.26% at $22.79 with 1,837,153 shares getting traded. Post opening the session at $22.96, the shares hit an intraday low of $22.72 and an intraday high of $23.61 and the price was in this range throughout the day. The company has a market cap of $2,866 million and the number of outstanding shares have been calculated to be 125,738,364 shares. The 52-week high of Rackspace Hosting Inc (NYSE:RAX) is $39.37 and the 52-week low is $15.05.
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, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds. It also offers advisory services for technology strategy, security and compliance, application assessment and migration, and DevOps automation. The Company also offers its solutions across a variety of IT form factors, including multi-tenant public cloud, dedicated single-tenant servers, private cloud, and hybrid cloud. It also delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States, as well as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.