Rackspace Hosting Inc (RAX) Shares are Down -0.07%

Rackspace Hosting Inc (RAX) has risen sharply, recording gains of 26.9% in the past 4 weeks. However, the stock has corrected -0.07% 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 25.6% 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 16.64% and the 50-Day Moving Average is 24.37%. Rackspace Hosting Inc (NYSE:RAX): On Fridays trading session , Opening price of the stock was $29.9 with an intraday high of $30.05. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $29.23. However, the stock managed to close at $29.25, a loss of 2.53% for the day. On the previous day, the stock had closed at $30.01. The total traded volume of the day was 1,708,559 shares.


The company Insiders own 15.5% of Rackspace Hosting Inc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -5% . Institutional Investors own 87.58% of Rackspace Hosting Inc shares. During last six month period, the net percent change held by insiders has seen a change of -5%. Also, SunTrust Robinson Humphrey initiates coverage on Rackspace Hosting Inc (NYSE:RAX) The current rating of the shares is Neutral. Equity Analysts at the Firm announces the price target to $25 per share. The rating by the firm was issued on July 21, 2016.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *