Rackspace Hosting, Inc. (RAX) saw a big move in the last trading session, as the company’s shares fell by nearly 18% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for RAX, as the stock is now up nearly 4% in the past one-month time frame.
The company, which provides cloud computing services and managing web-based IT systems, has not seen any estimate revision over the past month, and the current year earnings consensus hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.
RAX currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the Oil Refining & Marketing industry may consider better-ranked stocks like Baidu, Inc. (BIDU), Inuvo, Inc. (INUV) and Facebook, Inc. (FB). While Baidu and Inuvo carry a Zacks Rank #1 (Strong Buy), Facebook holds a Zacks Rank #2 (Buy).
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