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.
Source: Rackspace stock price chart by Amigobulls
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