One week ago Rackspace Hosting (NYSE:RAX) was downgraded from Buy to Hold at Stifel Nicolaus. The shares closed at $57.74, or 23.0% under the $75.03 price of one week ago.
Rackspace Hosting, Inc. delivers websites, web-based IT systems, and provides related services.
Rackspace Hosting has overhead space with shares priced $58.02, or 25.0% below the average consensus analyst price target of $77.40. The stock should find initial resistance at its 200-day moving average (MA) of $60.17 and further resistance at its 50-day MA of $73.02.
In the past 52 weeks, shares of Rackspace Hosting have traded between a low of $40.57 and a high of $81.36 and are now at $58.02, which is 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.