In a report released yesterday, Ramsey El Assal from Barclays assigned a Sell rating to Rackspace Technology (RXT – Research Report), with a price target of $1.00. The company’s shares closed yesterday at $2.21.
According to TipRanks, El Assal is a 4-star analyst with an average return of 3.0% and a 54.86% success rate. El Assal covers the Technology sector, focusing on stocks such as Cognizant, FLEETCOR Technologies, and Marqeta.
Currently, the analyst consensus on Rackspace Technology is a Moderate Sell with an average price target of $1.67.
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The company has a one-year high of $3.10 and a one-year low of $1.05. Currently, Rackspace Technology has an average volume of 1.3M.
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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 Reduces Debt, Extends Maturity, Plans Exchanges
- Rackspace Technology Reports Fourth Quarter and Full Year 2023 Results
- Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment
- Options Volatility and Implied Earnings Moves Today, March 12, 2024
- Rackspace Technology Participates in Cloud Nirvana Spring 2024 Conference on Designing, Implementing and Executing Enterprise Hybrid and Multicloud Strategies
