Rackspace Hosting Inc (NYSE:RAX) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 2.38 by 16 Brokerage Firm. 5 Wall Street Firms have rated the stock as a strong buys. 2 stock experts have also suggested a buy rating. 8 Brokerage Firms have advised hold. 1 Analysts have rated it as strong sell.
Other Equity analysts have also commented on the company shares. Raymond James downgrades its rating on Rackspace Hosting Inc (NYSE:RAX). The global brokerage major lowers the current price target from $28 per share to $25 per share. Analysts at the Raymond James have a current rating of Outperform on the shares. The shares were previously rated Strong Buy. The rating by the firm was issued on May 10, 2016.
Rackspace Hosting Inc (NYSE:RAX) should head towards $27 per share according to 12 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $17 per share. The higher price estimate target is at $45 according to the Analysts.
Rackspace Hosting Inc (NYSE:RAX) witnessed a decline in the market cap on Tuesday as its shares dropped 0.96% or 0.22 points. After the session commenced at $22.82, the stock reached the higher end at $22.84 while it hit a low of $22.36. With the volume soaring to 1,153,702 shares, the last trade was called at $22.58. The company has a 52-week high of $39.37. The company has a market cap of $2,837 million and there are 125,657,526 shares in outstanding. The 52-week low of the share price is $15.05.
Shares of Rackspace Hosting, Inc. appreciated by 0.18% during the last five trading days but lost 4.04% on a 4-week basis. Rackspace Hosting, Inc. is up 9.13% in the last 3-month period. Year-to-Date the stock performance stands at -10.82%.
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.