Rackspace Hosting Inc (RAX) has risen sharply, recording gains of 13.91% in the past 4 weeks. However, the stock has corrected -0.13% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 16.27% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 3.25% and the 50-Day Moving Average is 15.67%.The 200 Day SMA reached 32.59% Rackspace Hosting, Inc. is up 41.94% in the last 3-month period. Year-to-Date the stock performance stands at 24.17%.
Rackspace Hosting Inc (RAX) : The highest short term price target forecast on Rackspace Hosting Inc (RAX) is $33 and the lowest target price is $18. A total of 9 equity analysts are currently covering the company. The average price of all the analysts is $28 with a standard deviation of $5.45.
Company shares have received an average consensus rating of Hold for the current week Rackspace Hosting Inc (NYSE:RAX): stock was range-bound between the intraday low of $31.41 and the intraday high of $31.48 after having opened at $31.48 on Fridays session. The stock finally closed in the red at $31.48, a loss of -0.10%. The stock remained in the red for the whole trading day. The total traded volume was 5,317,793 shares. The stock failed to cross $31.48 in Fridays trading. The stocks closing price on Thursday was $31.44.
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.