Rackspace Technology Inc [NASDAQ: RXT] loss -19.23% or -0.43 points to close at $1.78 with a heavy trading volume of 5345994 shares. The company report on March 12, 2024 at 4:15 PM that Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment.
Company to Receive $275 Million of New Money to Advance Key Strategic Initiatives.
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The daily chart for RXT points out that the company has recorded 5.62% gains over the past six months.
If we look at the average trading volume of 1.31M shares, RXT reached to a volume of 5345994 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 $2.17 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 3.17. 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.
UBS have made an estimate for Rackspace Technology Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 07, 2023. The new note on the price target was released on September 19, 2023, representing the official price target for Rackspace Technology Inc stock. Previously, the target price had yet another raise from $1.25 to $1.50, while Citigroup kept a Sell rating on RXT stock. On October 11, 2022, analysts decreased their price target for RXT shares from 9 to 5.
The Average True Range (ATR) for Rackspace Technology Inc is set at 0.20, with the Price to Sales ratio for RXT stock in the period of the last 12 months amounting to 0.13. Price to Free Cash Flow for RXT in the course of the last twelve months was 1.12 with Quick ratio for the last quarter at 1.02.
Trading performance analysis for RXT stock
Rackspace Technology Inc [RXT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.99. With this latest performance, RXT shares dropped by -2.99% in over the last four-week period, additionally plugging by 5.62% over the last 6 months – not to mention a drop of -13.77% 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 45.53, with the RSI for the last a single of trading hit 41.96, and the three-weeks RSI is set at 47.57 for Rackspace Technology Inc [RXT]. The present Moving Average for the last 50 days of trading for this stock 1.84, while it was recorded at 2.02 for the last single week of trading, and 1.87 for the last 200 days.
Rackspace Technology Inc [RXT]: A deeper dive into fundamental analysis
Rackspace Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.02 and a Current Ratio set at 0.92.
Rackspace Technology Inc [RXT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Rackspace Technology Inc posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. 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.
An analysis of Institutional ownership at Rackspace Technology Inc [RXT]
The top three institutional holders of RXT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RXT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RXT stock with ownership which is approximately 5.8325%.
