Hosting Multiple Environments On One Report Server

All,

Is there a way to simulate hosting three environments on one Report Server. Due to resource limitations, I would like to set up three environments DEV, TEST, STAGE on one report server such that the data source for each environment would be different. Can I use a different folder structure for each and then deploy the reports by providing server url accordingly?

e.g.
http://servername/DEV_Reports or should it be (http://servername/ReportServer/DEV_Reports)

http://servername/TEST_Reports
http://servername/STAGE_Reports

and then in each of the above define a datasource that has connections to appropriate database on db server. Can we do something like this?

Thanks.