Rackspace Upgraded To 3.5-Star Stock By Vetr Top Raters

Shares of Rackspace Hosting, Inc. RAX are down almost 15 percent year-to-date. However, most of the losses were realized over the first 40 days of the year, when the stock lost more than 33.5 percent.

Since that moment, the price has rebounded roughly 28 percent; following said run-up, top raters at the Vetr community have decided to upgrade the stock from 3.0 Stars to 3.5 Stars – out of a possible 5.0 Stars.

Related link: Here's How Crowdsourced Ratings Can Beat The Market

The crowd has set an average price target of $23.30 per share, which implies an upside of more than 7.7 percent from current prices.

Finally, it should be noted that 70 percent of the crowd’s ratings are bullish.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.