A statement released earlier today by Zacks Investment Research about Rackspace Hosting, Inc. (NYSE:RAX) ups the target price to $36.00
- Updated: October 11, 2016
Stating a potential upside of 0.13%, Zacks Investment Research increased the stock price target of Rackspace Hosting, Inc. (NYSE:RAX) to $36.00
Yesterday Rackspace Hosting, Inc. (NYSE:RAX) traded 0.00% even at $31.78. The company’s 50-day moving average is $31.18 and its 200-day moving average is $25.63. The last closing price is up 24.01% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. Volume of trade was down over the average, with 777,316 shares of RAX changing hands under the typical 3,734,060
With a market cap of $0, Rackspace Hosting, Inc. has price-earnings ratio of 27.98 with a 52 week low of $15.05 and a 52 week high of $32.14 .
Also covering Rackspace Hosting, Inc.'s target, a total of 17 equity analysts have issued a ratings update on Rackspace Hosting, Inc.. The 12-month price target is $26.53 with six analysts rating the stock a strong buy, 3 brokers rating the stock a buy, 12 firms rating the stock a hold, 0 equity analysts rating the company a underperform, and lastly one brokerage rating the stock a sell.
Brief Synopsis On Rackspace Hosting, Inc. (NYSE:RAX)
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. The Company 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 Company 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. Its services include dedicated customer care and technical support, such as operating system patching, application monitoring, network and firewall configurations, and identity management. The Company has operations 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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