RBC Capital analyst Daniel Perlin maintained a Hold rating on Rackspace Technology (RXT – Research Report) on November 7 and set a price target of $3.00. The company’s shares closed yesterday at $1.38.
Perlin covers the Financial sector, focusing on stocks such as Shift4 Payments, Broadridge Financial Solutions, and Fiserv. According to TipRanks, Perlin has an average return of 0.2% and a 41.32% success rate on recommended stocks.
Rackspace Technology has an analyst consensus of Hold, with a price target consensus of $1.98, representing a 44.00% upside. In a report released yesterday, Deutsche Bank also maintained a Hold rating on the stock with a $1.50 price target.
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RXT market cap is currently $302.2M and has a P/E ratio of -0.22.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RXT in relation to earlier this year.
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Rackspace Technology (RXT) Company Description:
Rackspace Technology Inc is an end-to-end multicloud technology services company. It designs, builds and operates its customers’ cloud environments across all technology platforms, irrespective of technology stack or deployment model. The company’s solutions include Application Services; Data; Colocation; Managed Cloud; Managed Hosting; Professional Services; and Security & Compliance. It operates in three reportable segments Multicloud Services; Apps & Cross Platform; and OpenStack Public Cloud. It generates revenue through the sale of consumption-based contracts for its services offerings and from the sale of professional services related to designing and building customer solution.
Read More on RXT:
- Rackspace Technology Named CRN 2023 IoT Innovator Award Winner for Fueling the Real-World Data Revolution
- Rackspace Technology sees Q4 EPS $(0.05)-$(0.03) , consensus (4c)
- Rackspace Technology reports Q3 EPS (4c), consensus (5c)
- Rackspace Technology Reports Third Quarter 2023 Results
- Rackspace Technology initiated with a Neutral at UBS
