According to the information provided by The Fly, in a research note that was distributed on Monday, Barclays lowered its price objective for Rackspace Technology (NASDAQ: RTX) from $4.00 to $2.00. According to the price forecast offered by Barclays, the share price may fall by 31.97% compared to its most recent closing price.

Several other brokerages have also provided their thoughts on RTX in the form of commentary on the cryptocurrency. Citigroup disclosed in a research report that was made public on November 21st that the price target that the company has established for the shares of Rackspace Technology has been decreased from $7.00 to $5.00. Rackspace Technology was upgraded by Credit Suisse Group from an “outperform” rating to a “buy,” and the company also raised its price objective on the stock from $7.00 to $8.00. This information was included in a research note published on November 17th. According to a research note distributed on November 10th, Deutsche Bank Aktiengesellschaft has stated that the price objective it has set for the company’s shares of Rackspace Technology has been reduced from $6.00 to $5.00. This information was provided about the price objective. Finally, in a research note made public on Thursday, October 20th, Evercore ISI announced that they would lower their price objective on shares of Rackspace Technology to $5.00. This was the last and most recent piece of news regarding the company. Two financial advisors have suggested that the stock be sold, while eight analysts rated it “hold,” and one analyst rated it “buy.” According to Bloomberg, most market analysts currently have a “hold” rating for the company, and their stock price objective is $7.40. In addition, most analysts expect the stock to close the day at the same price.
On Monday, NASDAQ: RTX began trading at $2.94. The 50-day simple moving average for the stock is currently sitting at $4.48, and the 200-day simple moving average is currently sitting at $5.52. The current ratio, the quick ratio, and the overall debt-to-equity ratio all come in at 1.25, while the overall debt-to-equity ratio comes in at 4.48. The company’s market capitalization is currently sitting at $620.66 million, its PE ratio is currently sitting at -0.92, its P/E/G ratio is currently sitting at 0.60, and its beta value is currently 1.16. Over the previous year, the price of Rackspace Technology ranged from its all-time low of $2.78 to its all-time high of $14.38.

On November 9th, after the close of the company’s fiscal third quarter, Rackspace Technology (NASDAQ: RTX) disclosed its most recent quarterly results. The consensus estimate of earnings per share from financial analysts for the quarter was $0.09, but the actual results came in at $0.10, which was $0.01 higher than the prediction. The return on equity for Rackspace Technology was positive by 12.90%, but the company’s net margin was negative by 21.64%. According to the analysts’ projections, the anticipated revenue for the upcoming quarter could fall between $773.42 million and $787.60 million. According to the average projections equity analysts make, Rackspace Technology is expected to make $0.54 in earnings per share for the current fiscal year.

In related news, on November 29th, Company Director Shashank Samant invested in the company by purchasing 100,000 shares. This was announced in another recent piece of news. The stock was acquired for a total cost of $455,000.00, which works out to a price of $4.55 per share on an average basis. The director now owns 138,574 shares in the company, which are currently valued at $630,511.70 due to the successful completion of the acquisition. The acquisition was reported in a document handed into the SEC, and that document is now available on the website of the SEC. 2.10 company insiders own a percent of the total shares currently outstanding.

In recent months, several hedge funds and other institutional investors have adjusted the proportion of businesses held within their investment portfolios. During the third quarter, First Trust Advisors LP achieved a 102.8% increase in the proportion of Rackspace Technology’s common stock that it owned. First Trust Advisors LP now holds 29,795,064 shares of the company’s stock, which has a value of $121,564,000 after purchasing an additional 15,103,307 shares during the most recent quarter. These shares were purchased during the most recent quarter. Over the first three months of 2018, Mackenzie Financial Corporation achieved a 0.9% increase in its holdings of Rackspace Technology. Mackenzie Financial Corp. now has a direct ownership stake of 7,197,859 shares, currently valued at $80,328,000. This was made possible by purchasing 66,423 shares over the last three months to accomplish the goal. During the third quarter, Vanguard Group Inc. increased the number of shares Rackspace Technology owned by 11.8%, bringing the total number of shares it owned to 58.4%. Vanguard Group Inc.’s total number of shares has increased by 711,535 since the end of the preceding quarter, bringing the total number of shares it possesses to 6,764,000, with each share having a value of $27,597,000 as of the end of the most recent quarter. BlackRock Inc. increased the proportion of shares in Rackspace Technology owned by 1.4% during the third quarter. BlackRock Inc. now has 4,222,655 shares of the company’s stock, valued at $17,228,000, after purchasing an additional 59,882 shares during the preceding quarter. Finally, but certainly not least, during the second quarter, Legal & General Group Plc increased Rackspace Technology’s ownership by 6.7%. At the end of the most recent quarter, Legal & General Group Plc directly owned 2,778,590 shares, which had a market value of $19,923,000. Compared to the previous quarter, this represents an increase of 173,522 shares. Institutional investors and hedge funds currently own 88.15 percent of the company’s stock between them.

Rackspace Technology, Inc makes a variety of cloud computing services available to clients in every region of the world. The business is organized into two distinct divisions, which are referred to as “apps” and “cross-platform” and “multi-cloud” services, respectively. The Multicloud Services division of the company offers managed public and private cloud services in addition to professional services for designing and constructing multi-cloud solutions and cloud-native applications. These services can be accessed through the company’s website. Thanks to these services, customers can select, manage, and optimize the most suitable infrastructure, platforms, and services.

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