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FBN Securities upgraded Rackspace (NYSE: RAX) from Underperform to Sector Perform with a price target of $21.00 (from $30.00). Analyst Shebly Seyrafi highlighted more compelling valuation and said selling pressure was "overdone."
"The stock price has experienced a vicious decline over the last year of ~60%, and we now believe that the selling pressure has been overdone. Our main bearish thesis since our downgrade to... More
Rackspace (NYSE: RAX) has now seen a complete red-to-green reversal following results and weak guidance after the close. Shares last traded up 0.4%.
... MoreRackspace (NYSE: RAX) pared declines from 16% to 2%.
Oppenheimer maintained an Outperform rating on Rackspace (NYSE: RAX), and cut the price target to $30.00 (from $43.00), following the company's 4Q earnings report. Revenue grew 2.7% seq. and EBITDA margins of 35.1% beat Oppenheimer's estimate by 150bps, driven by lower than expected OPEX. EPS of $0.24 beat $0.19 estimates given the EBITDA beat and lower... More
(Updated - February 17, 2016 8:44 AM EST)
(Updated corrects headline to say downgrade)
Pacific Crest downgrades Rackspace (NYSE: RAX) from Overweight to Sector Weight.
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 $18.17 yesterday.
... MoreUBS analyst Steven Milunovich reiterated a Neutral rating and slashed his price target on Rackspace (NYSE: RAX) to $19.00 (from $28.00) following Q4 results and a weak outlook.
Milunovich,commented, "There probably were more positives than negatives in the quarter and outlook, but disappointing... More
Barclays downgraded Rackspace (NYSE: RAX) from Overweight to Equalweight with a price target of $21.00 (from $35.00).
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 $18.17 yesterday.
... MoreStifel downgraded Rackspace (NYSE: RAX) from Buy to Hold and removed its price target (prior $30.00).
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 $18.17 yesterday.
... MoreCredit Suisse downgraded Rackspace (NYSE: RAX) from Outperform to Neutral with a price target of $22.00 (from $50.00) after better-than-expected Q4 results but lower guidance.
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 $18.17 yesterday.
... MoreRackspace (NYSE: RAX) reported Q4 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $522.8 million versus the consensus estimate of $521.39 million.
GUIDANCE:
Rackspace sees Q1 2016 revenue of $517-521 million, versus the consensus of $530.68... More
