Rackspace Hosting Inc (RAX) : The consensus on Rackspace Hosting Inc (RAX) based on 14 analyst recommendation on the company stock is 3.07, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 10 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
Rackspace Hosting Inc (RAX) stock is expected to deviate a maximum of $5.45 from the average target price of $28 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $33 and the most muted being $18.
Also, Raymond James downgrades its view on Rackspace Hosting Inc (NYSE:RAX) according to the research report released by the firm to its investors. The shares have now been rated Underperform by the stock experts at the ratings house. Earlier, the shares had a rating of Market Perform. The rating by the firm was issued on August 30, 2016.
Rackspace Hosting Inc (NYSE:RAX): The stock opened in the green at $31.48 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $31.49 and a low of $31.46 for the day. The stock did not find buyers even at the lows and closed at $31.47 recording a loss of -0.03%. 2,707,854 shares exchanged hands during the trading day. The stock had closed at $31.48 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.