user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 444620 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

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

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