In last trading session, Rackspace Technology Inc (NASDAQ:RXT) saw 0.51 million shares changing hands with its beta currently measuring 1.86. Company’s recent per share price level of $1.48 trading at $0.01 or 0.68% at ring of the bell on the day assigns it a market valuation of $320.29M. That closing price of RXT’s stock is at a discount of -257.43% from its 52-week high price of $5.29 and is indicating a premium of 29.05% from its 52-week low price of $1.05. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.89 million shares which gives us an average trading volume of 1.69 million if we extend that period to 3-months.
For Rackspace Technology Inc (RXT), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.14. Splitting up the data highlights that, out of 7 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 5 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $Rocket Companies, Inc. in the current quarter.
Rackspace Technology Inc (NASDAQ:RXT) trade information
Upright in the green during last session for gaining 0.68%, in the last five days RXT remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $1.48 price level, adding 6.33% to its value on the day. Rackspace Technology Inc’s shares saw a change of -49.83% in year-to-date performance and have moved 17.46% in past 5-day. Rackspace Technology Inc (NASDAQ:RXT) showed a performance of 6.47% in past 30-days. Number of shares sold short was 6.12 million shares which calculate 4.37 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $2.13 to the stock, which implies a rise of 30.52% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $3.50. It follows that stock’s current price would drop -136.49% in reaching the projected high whereas dropping to the targeted low would mean a gain of 32.43% for stock’s current value.
Rackspace Technology Inc (RXT) estimates and forecasts
Statistics highlight that Rackspace Technology Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 30.97% of value to its shares in past 6 months, showing an annual growth rate of -129.63% while that of industry is 12.30. Apart from that, the company came lowering its revenue forecast for fiscal year 2023.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -66.98% during past 5 years.
Rackspace Technology Inc is more likely to be releasing its next quarterly report on November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
Insiders are in possession of 4.63% of company’s total shares while institution are holding 95.38 percent of that, with stock having share float percentage of 100.01%. Investors also watch the number of corporate investors in a company very closely, which is 95.38% institutions for Rackspace Technology Inc that are currently holding shares of the company. Apollo Management Holdings, L.P. is the top institutional holder at RXT for having 129.61 million shares of worth $352.54 million. And as of Jun 29, 2023, it was holding 60.03% of the company’s outstanding shares.
The second largest institutional holder is Legal & General Group PLC, which was holding about 10.36 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 4.80% of outstanding shares, having a total worth of $28.18 million.
On the other hand, iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 1.95 million shares of worth $4.88 million or 0.90% of the total outstanding shares. The later fund manager was in possession of 1.91 million shares on Jun 29, 2023, making its stake of worth around $5.2 million in the company or a holder of 0.89% of company’s stock.