Rackspace Hosting Inc (RAX) has risen sharply, recording gains of 7.52% in the past 4 weeks. However, the stock has corrected -0.1% 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 7.66% 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 6.82% and the 50-Day Moving Average is 24.41%.The 200 Day SMA reached 33.92%. Rackspace Hosting, Inc. is up 26.33% in the last 3-month period. Year-to-Date the stock performance stands at 24.29%.
Rackspace Hosting Inc (NYSE:RAX): The stock was completely flat for the day, closing at $31.47 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $31.51, the stock touched an intraday high of $31.52 and a low of $31.44. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $31.47. The total trading volume on Friday was 5,392,898.
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.