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

Cyxtera Technologies, Inc. (NASDAQ:CYXTGet 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:CYXTGet 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

(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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Analyst Recommendations for Cyxtera Technologies (NASDAQ:CYXT)

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