Rackspace Hosting Inc (RAX) : Traders are bullish on Rackspace Hosting Inc (RAX) as it has outperformed the S&P 500 by a margin of 1.58% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.77%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.39% in the last 1 week, and is up 8.45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Rackspace Hosting Inc (NYSE:RAX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.27 and $22.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.37, notching a gain of 0.95% for the day. The total traded volume was 1,383,227 . The stock had closed at $23.15 on the previous day.
The stock has recorded a 20-day Moving Average of 6.28% and the 50-Day Moving Average is 1.8%. Rackspace Hosting, Inc. has dropped 7.74% during the last 3-month period . Year-to-Date the stock performance stands at -7.7%.
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.