RAX: More on Wells Fargo's upgrade of Rackspace...

2:23 PM More on Wells Fargo's upgrade of Rackspace (RAX +5.8%): Analyst Gray Powell, who downgraded Rackspace on April 2 (when shares were at $49.47), says talks suggest fears about the impact of cloud infrastructure services (AWS, Windows Azure, etc.) on Rackspace's hosting ops are excessive. "While cloud computing adoption has had some impact ... All of our contacts stressed that many applications work better in dedicated environments." Powell adds cloud BI software firm GoodData "switched to RAX from AWS because they wanted a standardized platform in public, private, and dedicated environments." Data center colocation giant Equinix (EQIX +2.3%), another firm that depends plenty on traditional hosting, is also outperforming. Read comments

RAX price at time of publication: $38.19. Check RAX price now »

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Press Releases on RAX

• Rackspace and 10gen Team up to Deliver First Cloud Platform Engineered for MongoDB Solutions (Business Wire)
• Rackspace Hires New Sales Leader to Drive Customer Acquisition (Business Wire)
• Rackspace Fanatics Score 4th on UK's Great Place to Work List (Business Wire)

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StockTalk on RAX: RAX StockTalk | Twitter RAX | Twitter $RAX | RAX Instablogs

Recent Market Alerts on RAX: All currents | Earnings | Dividends | M&A | On the move

Transcripts on RAX

• Rackspace Hosting Management Discusses Q1 2013 Results - Earnings Call Transcript
• Rackspace Hosting, Inc. - Shareholder/Analyst Call
• Rackspace Hosting's Management Presents at Deutsche Bank's DbAccess 21st Annual Media and Telecom Conference (Transcript)

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