Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report) has received an average recommendation of “Reduce” from the seven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.15.
Separately, UBS Group increased their price target on Rackspace Technology from $2.10 to $2.30 and gave the stock a “neutral” rating in a research report on Friday, August 16th.
View Our Latest Stock Analysis on RXT
Insider Transactions at Rackspace Technology
Hedge Funds Weigh In On Rackspace Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXT. SG Americas Securities LLC lifted its holdings in shares of Rackspace Technology by 64.7% in the third quarter. SG Americas Securities LLC now owns 34,467 shares of the company’s stock valued at $84,000 after buying an additional 13,543 shares during the period. Susquehanna Fundamental Investments LLC raised its position in Rackspace Technology by 143.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 53,506 shares of the company’s stock worth $159,000 after acquiring an additional 31,550 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Rackspace Technology by 44.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,019 shares of the company’s stock valued at $89,000 after acquiring an additional 9,275 shares during the last quarter. Sargent Investment Group LLC boosted its position in shares of Rackspace Technology by 86.9% during the 2nd quarter. Sargent Investment Group LLC now owns 215,100 shares of the company’s stock valued at $641,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Rackspace Technology by 23.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,339,200 shares of the company’s stock worth $3,991,000 after purchasing an additional 256,900 shares during the last quarter. 82.48% of the stock is owned by institutional investors.
Rackspace Technology Price Performance
Rackspace Technology stock opened at $2.54 on Friday. Rackspace Technology has a 12 month low of $1.15 and a 12 month high of $3.18. The company has a fifty day moving average price of $2.33 and a two-hundred day moving average price of $2.18. The company has a market cap of $568.58 million, a PE ratio of -0.64 and a beta of 1.98.
Rackspace Technology (NASDAQ:RXT – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The business had revenue of $684.90 million during the quarter, compared to analyst estimates of $669.10 million. Equities research analysts anticipate that Rackspace Technology will post -0.32 earnings per share for the current year.
Rackspace Technology Company Profile
Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.
Read More
- Five stocks we like better than Rackspace Technology
- How to buy stock: A step-by-step guide for beginners
- The Outlook for Interest Rate Cuts Got Blown Out of the Water
- How to Choose Top Rated Stocks
- 3 High-Risk, High-Reward Micro-Cap Stocks You Shouldn’t Ignore
- How to Evaluate a Stock Before Buying
- 3 Bargain Stocks Positioned for Gains After Missing 2024’s Rally
Receive News & Ratings for Rackspace Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Technology and related companies with MarketBeat.com's FREE daily email newsletter.