Rackspace Technology Inc. [NASDAQ: RXT] gained 18.80% on the last trading session, reaching $6.32 price per share at the time. The company report on September 8, 2022 that Rackspace Launches Multi-Million Dollar Accelerated Migration Program to Move Customers to the Private Cloud.
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Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced that it has launched a multi-million dollar program – Rackspace Accelerated Migration Program (Rackspace AMP). The industry leading program is designed to help customers move their applications from on-premises or colocation facilities into the private cloud. In addition to financial assistance, the program provides dedicated technical expertise, giving customers who are running workloads on virtual machines (VMs) or bare metal compute better cost efficiency and improved resiliency versus the public cloud.
“With this program, we are meeting our customers where they are, investing in their cloud journey, and providing them with extensive financial support, as well as knowledge and resources, for getting their applications into next generation private clouds,” said Josh Prewitt, Chief Product Officer, Rackspace Technology. “Many organizations are under pressure to lift and shift into the cloud but are wary of managing costs and maintaining control. With Rackspace AMP, we can take care of the move to the private cloud for them, so they can run their systems at a reasonable rate, in a controlled environment, with lifecycle management baked in.”.
Rackspace Technology Inc. represents 209.50 million in outstanding shares, while the company has a total market value of $1.24 billion with the latest information. RXT stock price has been found in the range of $5.42 to $6.45.
If compared to the average trading volume of 1.03M shares, RXT reached a trading volume of 7758491 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Rackspace Technology Inc. [RXT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RXT shares is $7.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RXT stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Rackspace Technology Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $9 to $7. The new note on the price target was released on August 11, 2022, representing the official price target for Rackspace Technology Inc. stock.
The Average True Range (ATR) for Rackspace Technology Inc. is set at 0.39, with the Price to Sales ratio for RXT stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 1.33. Price to Free Cash Flow for RXT in the course of the last twelve months was 5.59 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for RXT stock
Rackspace Technology Inc. [RXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.12. With this latest performance, RXT shares gained by 8.78% in over the last four-week period, additionally sinking by -36.67% over the last 6 months – not to mention a drop of -56.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RXT stock in for the last two-week period is set at 64.17, with the RSI for the last a single of trading hit 75.05, and the three-weeks RSI is set at 56.73 for Rackspace Technology Inc. [RXT]. The present Moving Average for the last 50 days of trading for this stock 6.03, while it was recorded at 5.20 for the last single week of trading, and 9.75 for the last 200 days.
Rackspace Technology Inc. [RXT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Rackspace Technology Inc. [RXT] shares currently have an operating margin of +1.84 and a Gross Margin at +31.13. Rackspace Technology Inc.’s Net Margin is presently recorded at -7.25.
Return on Equity for this stock declined to -16.10, with Return on Assets sitting at -3.44.
Rackspace Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Rackspace Technology Inc. [RXT]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RXT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rackspace Technology Inc. go to -3.46%.
An analysis of insider ownership at Rackspace Technology Inc. [RXT]
There are presently around $1,174 million, or 99.70% of RXT stock, in the hands of institutional investors. The top three institutional holders of RXT stocks are: APOLLO MANAGEMENT HOLDINGS, L.P. with ownership of 129,609,000, which is approximately 0% of the company’s market cap and around 3.50% of the total institutional ownership; FIRST TRUST ADVISORS LP, holding 14,691,757 shares of the stock with an approximate value of $92.85 million in RXT stocks shares; and MACKENZIE FINANCIAL CORP, currently with $45.38 million in RXT stock with ownership of nearly -0.234% of the company’s market capitalization.
Positions in Rackspace Technology Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 86 institutional holders increased their position in Rackspace Technology Inc. [NASDAQ:RXT] by around 5,428,259 shares. Additionally, 57 investors decreased positions by around 7,084,751 shares, while 18 investors held positions by with 173,287,119 shares. The mentioned changes placed institutional holdings at 185,800,129 shares, according to the latest SEC report filing. RXT stock had 31 new institutional investments in for a total of 617,263 shares, while 18 institutional investors sold positions of 2,465,693 shares during the same period.