Cyxtera Technologies (NASDAQ:CYXT) Price Target Increased to $16.00 by Analysts at Royal Bank of Canada

Cyxtera Technologies (NASDAQ:CYXTGet Rating) had its price target boosted by equities researchers at Royal Bank of Canada from $14.00 to $16.00 in a report issued on Monday, The Fly reports. Royal Bank of Canada’s target price indicates a potential upside of 10.19% from the stock’s current price.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Cyxtera Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 28th. Credit Suisse Group assumed coverage on shares of Cyxtera Technologies in a research report on Thursday, April 7th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Raymond James raised their price target on shares of Cyxtera Technologies from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cyxtera Technologies has an average rating of “Buy” and an average price target of $14.17.

Shares of Cyxtera Technologies stock opened at $14.52 on Monday. The company has a 50 day moving average of $12.72 and a 200-day moving average of $11.89. Cyxtera Technologies has a 1-year low of $7.51 and a 1-year high of $14.98. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.79.

Cyxtera Technologies (NASDAQ:CYXTGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The company had revenue of $182.40 million for the quarter, compared to analyst estimates of $182.35 million. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Cyxtera Technologies will post -0.8 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BC Partners Advisors L.P. increased its holdings in Cyxtera Technologies by 3.5% in the 1st quarter. BC Partners Advisors L.P. now owns 47,676,705 shares of the company’s stock worth $582,609,000 after acquiring an additional 1,627,561 shares in the last quarter. Starboard Value LP lifted its position in Cyxtera Technologies by 25.7% in the first quarter. Starboard Value LP now owns 20,767,571 shares of the company’s stock worth $253,780,000 after buying an additional 4,241,256 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Cyxtera Technologies in the third quarter worth $12,506,000. Pacer Advisors Inc. lifted its position in shares of Cyxtera Technologies by 126.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,017,401 shares of the company’s stock worth $12,829,000 after purchasing an additional 568,641 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Cyxtera Technologies by 499.9% during the fourth quarter. State Street Corp now owns 617,281 shares of the company’s stock worth $7,784,000 after purchasing an additional 514,381 shares during the last quarter.

Cyxtera Technologies Company Profile (Get Rating)

Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

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