Rackspace Reaches All Time Highs on Solid Q4
Rackspace Hosting Inc. powered to a lifetime high today as shares rose over 11% and continue to surge forward on last quarter’s earnings. According to Benchmark Capital: “Rackspace reported strong fourth-quarter results while indicating trends should drive similar performance in 2012. We raise our estimates to reflect sustained high growth and solid margins.” At least one brokerage upgraded the stock while three others raised their price targets on it and shares of the company jumped 11 percent to $54.80 in early trade on the New York Stock Exchange. They were later trading at $54.71. Analysts from other brokerage houses were quick … Read more