Rackspace Technology, Inc. (NASDAQ: RXT – Get a rating) The ten brokerages currently being covered by the company have been given a “Buy” consensus recommendation, Marketbeat Ratings reported. Four stock research analysts have valued the shares with a holding recommendation and four have given the company a buyout recommendation. The 12-month average price target for analysts covering the stock for the past year is $ 15.28.
Several stock analysts have recently commented on RXT shares. Barclays lowered its target price on Rackspace Technology from $ 17.00 to $ 10.00 on Thursday, Feb. 24, in a research note. Deutsche Bank Aktiengesellschaft downgraded Rackspace Technology from a “buy” rating to a “hold” rating and lowered the company’s target price from $ 21.00 to $ 9.00 on Wednesday, February 23, in a research note. Credit Suisse Group lowered its target price for Rackspace Technology from $ 25.00 to $ 19.00 and set a “pass” rating for the company on Wednesday, February 23, in a research note. BMO Capital Markets downgraded Rackspace Technology from a “pass” rating to a “market performance” rating and lowered the company’s target price from $ 18.00 to $ 10.50 on Wednesday, Feb. 23, in a research release. Finally, the Royal Bank of Canada lowered Rackspace Technology’s price target from $ 24.00 to $ 18.00 and set a “pass” rating for the company on Wednesday, February 23, in a research note.
Shares of Rackspace Technology opened at $ 7.62 on Friday. The company has a debt and equity ratio of 2.75, a current ratio of 1.23 and a fast ratio of 1.23. The company has a market capitalization of $ 1.610 billion, a PE ratio of -8.28, a 1.07 price-to-earnings growth ratio and a 0.81 beta. Rackspace Technology has an annual low of $ 7.28 and a one-year high of $ 21.20. The business has a 50-day simple mobile average for $ 9.58 and a 200-day simple mobile average for $ 11.40.
Rackspace Technologies (NASDAQ: RXT – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $ 0.22 EPS in the quarter, exceeding the consensus estimate by $ 0.21 to $ 0.01. The business had revenue of $ 775.50 million during the quarter compared to the consensus estimate of $ 774.45 million. Rackspace Technology had a positive return of 14.99% and a net negative margin of 6.30%. Rackspace Technology’s revenue rose 6.8% year-on-year. In the same quarter last year, the company earned $ 0.23 EPS. Equity analysts predict that Rackspace Technology will place 0.75 earnings per share for the current year.
Some hedge funds have recently bought and sold RXT shares. Newbridge Financial Services Group Inc. bought a new position in Rackspace Technology in the fourth quarter worth about $ 27,000. PNC Financial Services Group Inc.’s stake in Rackspace Technology rose 693.1% in the first quarter. PNC Financial Services Group Inc. has 3,347 shares of the company, now valued at $ 37,000, after buying 2,925 more shares in the last quarter. Macquarie Group Ltd. bought a new stake in Rackspace Technology in the third quarter for about $ 52,000. Nisa Investment Advisors LLC’s stake in Rackspace Technology rose 447.1% in the fourth quarter. Nisa Investment Advisors LLC now has $ 4,650 worth of $ 58,000 after buying 3,800 more shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Rackspace Technology in the first quarter worth about $ 79,000. Hedge funds and other institutional investors account for 95.90% of the company’s shares.
About Rackspace Technology (Get rating)
Rackspace Technology, Inc. operates as a multi-cloud technology service company worldwide. It operates through the Multicloud Services and Applications and Cross Platform segments. The company’s Multicloud Services segment provides publicly and privately managed cloud services that enable customers to define, manage, and optimize appropriate infrastructure, platforms, and services; and professional services related to the design and construction of multi-cloud solutions and native cloud applications.
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