Brokerages Set Cyxtera Technologies, Inc. (NASDAQ:CYXT) Price Target at $6.47

Cyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) has earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.47.

A number of brokerages recently weighed in on CYXT. UBS Group decreased their price objective on shares of Cyxtera Technologies from $14.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, November 9th. Cowen lowered their price target on shares of Cyxtera Technologies to $9.00 in a report on Tuesday, November 15th. Truist Financial lowered their price target on shares of Cyxtera Technologies from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. Exane BNP Paribas initiated coverage on shares of Cyxtera Technologies in a report on Wednesday, December 14th. They set an “underperform” rating on the stock. Finally, Citigroup lowered their price target on shares of Cyxtera Technologies from $13.00 to $2.75 and set a “buy” rating on the stock in a report on Thursday, December 1st.

Cyxtera Technologies Stock Performance

NASDAQ CYXT opened at $2.58 on Friday. The firm has a market cap of $463.41 million, a price-to-earnings ratio of -2.13 and a beta of 0.84. The company has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $5.23. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 3.41. Cyxtera Technologies has a 12-month low of $1.53 and a 12-month high of $15.42.

Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.12). Cyxtera Technologies had a negative return on equity of 29.61% and a negative net margin of 28.78%. The company had revenue of $186.60 million during the quarter, compared to analysts’ expectations of $187.67 million. On average, equities analysts forecast that Cyxtera Technologies will post -1.05 EPS for the current year.

Hedge Funds Weigh In On Cyxtera Technologies

A number of large investors have recently added to or reduced their stakes in CYXT. Citigroup Inc. acquired a new position in Cyxtera Technologies during the first quarter worth $147,000. BlackRock Inc. raised its position in Cyxtera Technologies by 2.0% during the first quarter. BlackRock Inc. now owns 403,055 shares of the company’s stock worth $4,926,000 after acquiring an additional 7,938 shares during the period. Sei Investments Co. raised its position in shares of Cyxtera Technologies by 60.2% in the first quarter. Sei Investments Co. now owns 25,416 shares of the company’s stock valued at $311,000 after buying an additional 9,554 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cyxtera Technologies in the first quarter valued at about $178,000. Finally, Starboard Value LP raised its position in shares of Cyxtera Technologies by 25.7% in the first quarter. Starboard Value LP now owns 20,767,571 shares of the company’s stock valued at $253,780,000 after buying an additional 4,241,256 shares during the last quarter.

About Cyxtera Technologies

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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.