Shares of Rackspace Technology, Inc. (NASDAQ:RXT – Get Rating) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $5.50.
A number of research analysts recently commented on RXT shares. Credit Suisse Group boosted their price target on Rackspace Technology from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Rackspace Technology from $6.00 to $5.00 in a report on Thursday, November 10th. Evercore ISI decreased their price objective on Rackspace Technology to $5.00 in a report on Thursday, October 20th. Barclays decreased their price objective on Rackspace Technology from $4.00 to $2.00 and set an “underweight” rating on the stock in a report on Monday, December 19th. Finally, Citigroup decreased their price objective on Rackspace Technology from $7.00 to $5.00 in a report on Monday, November 21st.
Insider Buying and Selling
In other Rackspace Technology news, Director Shashank Samant bought 100,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The stock was acquired at an average price of $4.55 per share, for a total transaction of $455,000.00. Following the completion of the transaction, the director now directly owns 138,574 shares of the company’s stock, valued at $630,511.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Rackspace Technology
Rackspace Technology Stock Up 1.8 %
NASDAQ RXT opened at $2.85 on Monday. The stock’s 50 day moving average is $3.55 and its 200 day moving average is $4.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 4.48. Rackspace Technology has a 12 month low of $2.51 and a 12 month high of $13.62. The stock has a market cap of $601.66 million, a PE ratio of -0.89, a P/E/G ratio of 2.91 and a beta of 1.37.
Rackspace Technology (NASDAQ:RXT – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Rackspace Technology had a positive return on equity of 12.90% and a negative net margin of 21.64%. The company had revenue of $787.60 million for the quarter, compared to analysts’ expectations of $773.42 million. Research analysts predict that Rackspace Technology will post 0.54 EPS for the current fiscal year.
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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