Analysts Upgrade The Target Price For Rackspace

Rackspace (RAX), the company that offers server hosting services, had witnessed its stock price go up by 7% from the date of quarterly results announcement. Following a strong performance, analysts like Evercore Partners increased the target price of Rackspace stock from $45 to $51; Canaccord Genuity from $37 to $42 with a ‘neutral rating’. In summary, the analyst consensus target price stood at $55.7, an upside of 18% from the yesterday’s close.

See Rackspace stock price movement in the stock chart below.
Rackspace Stock Chart
Source: Rackspace stock price chart by Amigobulls

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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