Goldman Sachs Maintains Positive Stance On Rackspace (RAX) Following Q3
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Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs reiterated their Buy rating and $54 price target on Rackspace (NYSE: RAX) following Q3 results.
The firm was positive on top-line acceleration with revenues growth of 31.3%. "The results reflect continued strong contribution from the installed base and a re-acceleration of cloud revenue," the analyst said. Goldman was also positive on the sequential rise in margins to 33.3%, which came despite a boost in capex.
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 $41.75 yesterday.
The firm was positive on top-line acceleration with revenues growth of 31.3%. "The results reflect continued strong contribution from the installed base and a re-acceleration of cloud revenue," the analyst said. Goldman was also positive on the sequential rise in margins to 33.3%, which came despite a boost in capex.
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 $41.75 yesterday.
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