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Rackspace Hosting, Inc. (RAX) provides cloud computing services and managing Web-based IT systems for small and medium-sized businesses and large enterprises worldwide.
The companys service offering combines hosting on dedicated hardware and on multi-tenant pools of virtualized hardware in a way that suits each customers requirements. Its public cloud services refer to pooled computing resources delivered on-demand over the Internet.
The company offers cloud servers for computing; cloud sites for Website hosting; cloud block storage and cloud files for storage; cloud databases for hosting MySQL instances; cloud backup for file protection; cloud load balancers for traffic management; cloud monitoring for infrastructure control; cloud DNS for domain management; cloud networks for security enhancement; and cloud applications, including email, collaboration, and file back-ups. Its dedicated cloud services include customer management portal and other management tools for managing the data center, network, hardware devices, and operating system software; and private cloud services comprise a pool of computing resources for a particular customer.
The company also provides hybrid hosting, which enables customers to utilize any combination of dedicated and pooled resources and to manage them through its RackConnect service. It sells its service suite through direct sales teams, third party channel partners, and online ordering.
Shares have formed a bullish "cup & handle" and are in the process of moving higher out of this formation.
52-Week Trading Range: $26.18 - $52.45
Entry Point: $51.00
Stop Loss: $48.45
Target Price: $56.10
Taking profits on RAX at $51.91 after its 30-days expired.
