Benchmark Reiterates a 'Buy' on Rackspace (RAX); OpenStack Momentum & Possible Catalyst
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Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Benchmark reiterates a 'Buy' on Rackspace (NYSE: RAX) price target raised from $60 to $66.
Benchmark analyst, said, "As one of the founders of the open-sourced cloud platform OpenStack, Rackspace could benefit from increased visibility and momentum of OpenStack during and after the The OpenStack Conference & Design Summit from April 16-20 in San Francisco. This event is a possible catalyst for the stock...We expect another strong quarter. Our estimates are in-line with the Street consensus, which is $300 million in revenue (31% y/y growth) and $0.18 of GAAP EPS."
For an analyst ratings summary and ratings history on Rackspace click here. For more ratings news on Rackspace click here.
Shares of Rackspace closed at $56.89 yesterday.
Benchmark analyst, said, "As one of the founders of the open-sourced cloud platform OpenStack, Rackspace could benefit from increased visibility and momentum of OpenStack during and after the The OpenStack Conference & Design Summit from April 16-20 in San Francisco. This event is a possible catalyst for the stock...We expect another strong quarter. Our estimates are in-line with the Street consensus, which is $300 million in revenue (31% y/y growth) and $0.18 of GAAP EPS."
For an analyst ratings summary and ratings history on Rackspace click here. For more ratings news on Rackspace click here.
Shares of Rackspace closed at $56.89 yesterday.
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