Brokerage Firm Rating Update on Rackspace Hosting Inc (RAX)

Rackspace Hosting Inc (RAX) : Zacks Investment Research ranks Rackspace Hosting Inc (RAX) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 3.07, which indicates as a Hold.

Rackspace Hosting Inc (RAX) stock is expected to deviate a maximum of $5.45 from the average target price of $28 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $33 and the most muted being $18.


Company shares have received an average consensus rating of Hold for the current week Also, Raymond James downgrades its rating on Rackspace Hosting Inc (NYSE:RAX). Analysts at the Raymond James have a current rating of Underperform on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on August 30, 2016.

Rackspace Hosting Inc (NYSE:RAX): stock was range-bound between the intraday low of $31.46 and the intraday high of $31.5 after having opened at $31.48 on Wednesdays 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 7,403,993 shares. The stock failed to cross $31.5 in Wednesdays trading. The stocks closing price on Thursday was $31.5.

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.

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