The stock of Rackspace Hosting, Inc. (NYSE:RAX) is a huge mover today! About 779,685 shares traded hands. Rackspace Hosting, Inc. (NYSE:RAX) has risen 51.77% since March 8, 2016 and is uptrending. It has outperformed by 42.45% the S&P500.
The move comes after 7 months positive chart setup for the $4.00B company. It was reported on Oct, 11 by Barchart.com. We have $41.30 PT which if reached, will make NYSE:RAX worth $1.20 billion more.
Analysts await Rackspace Hosting, Inc. (NYSE:RAX) to report earnings on November, 14. They expect $0.22 EPS, down 15.38% or $0.04 from last year’s $0.26 per share. RAX’s profit will be $27.70M for 36.10 P/E if the $0.22 EPS becomes a reality. After $0.38 actual EPS reported by Rackspace Hosting, Inc. for the previous quarter, Wall Street now forecasts -42.11% negative EPS growth.
Rackspace Hosting, Inc. (NYSE:RAX) Ratings Coverage
Out of 17 analysts covering Rackspace (NYSE:RAX), 7 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 41% are positive. Rackspace has been the topic of 30 analyst reports since August 10, 2015 according to StockzIntelligence Inc. UBS maintained Rackspace Hosting, Inc. (NYSE:RAX) rating on Tuesday, November 10. UBS has “Neutral” rating and $30 price target. The stock of Rackspace Hosting, Inc. (NYSE:RAX) earned “Outperform” rating by RBC Capital Markets on Monday, January 18. JMP Securities maintained the stock with “Market Outperform” rating in Tuesday, August 11 report. RBC Capital Markets maintained it with “Sector Perform” rating and $36.0 target price in Monday, August 10 report. As per Friday, January 15, the company rating was maintained by RBC Capital Markets. The stock of Rackspace Hosting, Inc. (NYSE:RAX) earned “Sell” rating by CLSA on Thursday, March 31. On Tuesday, August 11 the stock rating was maintained by UBS with “Neutral”. As per Tuesday, August 11, the company rating was maintained by KeyBanc Capital Markets. The firm has “Underperform” rating given on Tuesday, August 11 by Credit Agricole. The firm has “Outperform” rating by CLSA given on Tuesday, August 11.
According to Zacks Investment Research, “As the world’s leader and specialist in hosting, Rackspace Hosting is changing the way businesses worldwide buy IT. Rackspace delivers computing-as-a-service, integrating the industry’s best technologies into a flexible service offering, making computing more reliable and affordable. A trusted partner to companies of all sizes, Rackspace enables IT departments to be more effective. Rackspace is distinguished by its award-winning Fanatical Support, furthering the company’s mission to be one of the world’s greatest service companies. Rackspace featured in the top 30 of both the Sunday Times 100 Best companies to work for list and the Financial Times Great Place to Work Awards, 2008. Rackspace’s portfolio of hosted services includes managed hosting, email hosting and cloud hosting”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.17, from 1.13 in 2016Q1. The ratio dropped, as 32 funds sold all Rackspace Hosting, Inc. shares owned while 90 reduced positions. 40 funds bought stakes while 77 increased positions. They now own 103.33 million shares or 1.05% less from 104.43 million shares in 2016Q1.
Omers Administration, a Ontario – Canada-based fund reported 34,100 shares. Ahl Limited Liability Partnership, a United Kingdom-based fund reported 84,788 shares. Ruffer Limited Liability Partnership, a United Kingdom-based fund reported 18,000 shares. Amer Int Grp Inc Incorporated has 0% invested in the company for 208,704 shares. Cubist Systematic Strategies Lc last reported 0.04% of its portfolio in the stock. Legal General Group Incorporated Public Limited Company holds 0.01% of its portfolio in Rackspace Hosting, Inc. (NYSE:RAX) for 397,761 shares. Springbok Cap Llc accumulated 0.01% or 4,100 shares. California Pub Employees Retirement has 0.01% invested in the company for 297,900 shares. Jpmorgan Chase, a New York-based fund reported 202,532 shares. Ubs Asset Management Americas Incorporated has invested 0% of its portfolio in Rackspace Hosting, Inc. (NYSE:RAX). Art Advsr Limited Liability Corp accumulated 241,309 shares or 0.25% of the stock. Numeric Invsts Limited Liability Co, a Massachusetts-based fund reported 112,600 shares. Citizens And Northern Corp reported 26,087 shares or 0.42% of all its holdings. State Street Corporation holds 0.01% or 3.06M shares in its portfolio. Globeflex Cap L P last reported 0.26% of its portfolio in the stock.
Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 2 insider sales for $464,446 net activity. 14,744 shares with value of $443,942 were sold by Roenigk Mark on Friday, August 5.
More important recent Rackspace Hosting, Inc. (NYSE:RAX) news were published by: Bizjournals.com which released: “Rackspace rival taps former Racker as CEO” on October 06, 2016, also Forbes.com published article titled: “Short Interest In Rackspace Hosting Decreases By 16.4%”, Bizjournals.com published: “Goldman Sachs brings home millions for role in Rackspace PE buyout deal” on September 20, 2016. More interesting news about Rackspace Hosting, Inc. (NYSE:RAX) was released by: Bizjournals.com and their article: “Buyer of Rackspace’s Cloud Sites seeks incentives for job in San Antonio” with publication date: September 23, 2016.
RAX Company Profile
Rackspace Hosting, Inc. (Rackspace), incorporated on March 7, 2000, operates in the managed cloud segment of the business information technology (IT) market. The Firm offers a portfolio of integrated IT solutions for common business needs. The Firm offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores. The Firm offers private, public and hybrid clouds in its approximately 10 data centers located on over four continents, in Microsoft Azure and Amazon Web Services data centers, as well as in customer-owned data centers. The Company’s services include dedicated customer care and technical support, such as operating system patching, application monitoring, network and firewall configurations, and identity management. The Firm has activities located in multiple cities across the United States, as well as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.
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