Rackspace Hosting Inc (NYSE:RAX) : 5 brokerage houses believe that Rackspace Hosting Inc (NYSE:RAX) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rackspace Hosting Inc (NYSE:RAX). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 16 Wall Street Analysts endorse the stock as a Buy with a rating of 2.38.
Rackspace Hosting Inc (NYSE:RAX) : 12 Wall Street analysts covering Rackspace Hosting Inc (NYSE:RAX) believe that the average level the stock could reach for the short term is $27. The maximum price target given is $45 and the minimum target for short term is around $17, hence the standard deviation is calculated at $8.08.
Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Brokerage Firm, Raymond James, downgrades their rating on the shares of Rackspace Hosting Inc (NYSE:RAX). Raymond James has a Outperform rating on the shares. Previously, the analysts had a Strong Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $25 per share from a prior target of $28. The rating by the firm was issued on May 10, 2016.
Rackspace Hosting Inc (NYSE:RAX): stock turned positive on Tuesday. Though the stock opened at $21.16, the bulls momentum made the stock top out at $21.34 level for the day. The stock recorded a low of $21.005 and closed the trading day at $21.13, in the green by 2.32%. The total traded volume for the day was 2,154,042. The stock had closed at $20.65 in the previous days trading.
In an insider trading activity, 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. (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.