Several other brokerages also recently weighed in on RXT. William Blair downgraded shares of Rackspace Technology from an outperform rating to a market perform rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. downgraded shares of Rackspace Technology from a neutral rating to an underweight rating and cut their target price for the company from $7.00 to $5.00 in a research note on Tuesday, August 16th. Royal Bank of Canada downgraded shares of Rackspace Technology from an outperform rating to a sector perform rating and cut their target price for the company from $9.00 to $7.00 in a research note on Thursday, August 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Rackspace Technology from $6.00 to $5.00 in a research note on Thursday, November 10th. Finally, Credit Suisse Group upped their price objective on shares of Rackspace Technology from $7.00 to $8.00 and gave the company an outperform rating in a research note on Thursday, November 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $7.60.
Rackspace Technology Trading Up 0.6 %
Shares of RXT stock opened at $4.75 on Monday. The firm has a 50-day moving average price of $4.81 and a 200 day moving average price of $6.23. Rackspace Technology has a twelve month low of $3.70 and a twelve month high of $15.65. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -1.49, a PEG ratio of 0.88 and a beta of 1.20. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 4.48.
Hedge Funds Weigh In On Rackspace Technology
Rackspace Technology Company Profile
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications.
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