Analyst Rating In Review: Rackspace Hosting Sold Off 23.0% Since Downgraded 7 Days Ago (RAX)

Published on Wed, 02/20/2013 - 10:11
By Adrienne Chilton in Analyst reflections, RAX, analyst reflections, nyse:rax, rackspace hosting

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.

By Adrienne Chilton
achilton@fnno.com

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