Rackspace (RAX) Strong Results and Better Outlook, Wells Fargo Notes; PT Lowered
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Cowen Reiterates Outperform on Rackspace (RAX) Following 3Q Revenue Beat
November 10, 2015 9:03 AM ESTCowen reiterated an Outperform rating on Rackspace (NYSE: RAX), and price target of $52.00 (from $48.00), following the company's 3Q earnings report. RAX reported solid 3Q15 results including rev/EBITDA that beat expectations largely driven by the previously announced enterprise deals that were pushed into 3Q... More
Rackspace (RAX) Beating Low Expectations is a Good Start But Execution is Needed - Needham & Company
November 10, 2015 6:53 AM ESTRackspace (NYSE: RAX) announced 3Q results of $509M in revenue/$0.26 in GAAP EPS vs. consensus estimates of $503M/$0.20. Guidance had implied revenue of $499-507M. Adjusted EBITDA Margin was 34.9%, up from 33.1% q/q (and above guidance for 33-34%).
Consolidated revenue was up 4% q/q (+3.8% in local currency) and up 10.7% y/y (or +12.9% cc). Results this quarter benefitted from (1) recognition of certain... More
Rackspace (RAX) Tops Q3 EPS by 6c
November 9, 2015 4:07 PM ESTRackspace (NYSE: RAX) reported Q3 EPS of $0.26, $0.06 better than the analyst estimate of $0.20. Revenue for the quarter came in at $509 million versus the consensus estimate of $503.08 million.
For the fourth quarter of 2015, Rackspace expects revenue to grow between 2.0 percent and 3.0 percent quarter-over-quarter, on... More
