Rackspace Hosting Inc (RAX) : Traders are bullish on Rackspace Hosting Inc (RAX) as it has outperformed the S&P 500 by a wide margin of 34.73% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 14.88%, 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 14.13% in the last 1 week, and is up 34.44% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 14.29% and the fifty day Moving Average is 29.13%. Rackspace Hosting, Inc. is up 26.35% in the last three month period. Year-to-Date the stock performance stands at 24.41%.
Rackspace Hosting Inc (RAX) has been rated by 12 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $38 and the lowest price target forecast is $18. The average forecast of all the analysts is $27.92 and the expected standard deviation is $5.6.
Rackspace Hosting Inc (NYSE:RAX): stock turned positive on Friday. Though the stock opened at $31.5, the bulls momentum made the stock top out at $31.62 level for the day. The stock recorded a low of $31.4 and closed the trading day at $31.5, in the green by 4.34%. The total traded volume for the day was 38,577,673. The stock had closed at $30.19 in the previous days trading.
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.