Rackspace Hosting Target of Unusually Large Options Trading (RAX)

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Shares of Rackspace Hosting (NYSE:RAX) saw unusually large options trading on Tuesday. Stock investors acquired 7,623 put options on the stock, American Banking News reports. This represents an increase of approximately 125% compared to the average volume of 3,388 put options.

In other Rackspace Hosting news, COO Mark Roenigk sold 11,500 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $33.23, for a total value of $382,145.00. Following the completion of the transaction, the chief operating officer now directly owns 30,748 shares of the company’s stock, valued at approximately $1,021,756. The sale was disclosed in a filing with the SEC, which is available at this link.

A number of research firms have recently commented on RAX. Analysts at Jefferies Group cut their EPS estimates on shares of Rackspace Hosting in a research note on Tuesday. They now have a “hold” rating and a $38.00 price target on the stock. Separately, analysts at Evercore Partners reiterated an “equal weight” rating on shares of Rackspace Hosting in a research note on Tuesday, February 11th. They now have a $40.00 price target on the stock, down previously from $45.00. Finally, analysts at Canaccord Genuity cut their price target on shares of Rackspace Hosting from $42.00 to $39.00 in a research note on Tuesday, February 11th. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Rackspace Hosting currently has a consensus rating of “Hold” and an average price target of $46.32.

Shares of Rackspace Hosting (NYSE:RAX) traded up 3.39% on Tuesday, hitting $35.72. 7,714,112 shares of the company’s stock traded hands. Rackspace Hosting has a 1-year low of $30.96 and a 1-year high of $57.69. The stock has a 50-day moving average of $36.24 and a 200-day moving average of $42.91. The company has a market cap of $4.996 billion and a price-to-earnings ratio of 56.64.

Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, February 10th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $408.00 million for the quarter, compared to the consensus estimate of $404.56 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts predict that Rackspace Hosting will post $0.63 earnings per share for the current fiscal year.

Rackspace Hosting, Inc, is the open cloud company. The Company offers a diverse portfolio of cloud computing services, including public, dedicated and private cloud, and hybrid hosting.

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