In last trading session, Rackspace Technology Inc (NASDAQ:RXT) saw 0.74 million shares changing hands with its beta currently measuring 1.98. Company’s recent per share price level of $2.47 trading at -$0.1 or -3.89% at ring of the bell on the day assigns it a market valuation of $558.29M. That closing price of RXT’s stock is at a discount of -28.74% from its 52-week high price of $3.18 and is indicating a premium of 53.44% from its 52-week low price of $1.15. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.66 million shares which gives us an average trading volume of 1.07 million if we extend that period to 3-months.
For Rackspace Technology Inc (RXT), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 3.17. Splitting up the data highlights that, out of 8 analysts covering the stock, 3 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.07 in the current quarter.
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Rackspace Technology Inc (NASDAQ:RXT) trade information
Upright in the red during last session for losing -3.89%, in the last five days RXT remained trading in the green while hitting it’s week-highest on Friday, 09/27/24 when the stock touched $2.47 price level, adding 6.79% to its value on the day. Rackspace Technology Inc’s shares saw a change of 23.50% in year-to-date performance and have moved 4.22% in past 5-day. Rackspace Technology Inc (NASDAQ:RXT) showed a performance of 9.78% in past 30-days. Number of shares sold short was 6.01 million shares which calculate 9.61 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 2.75 to the stock, which implies a rise of 10.18% to its current value. Analysts have been projecting 1.8 as a low price target for the stock while placing it at a high target of 5. It follows that stock’s current price would jump 27.13% in reaching the projected high whereas dropping to the targeted low would mean a gain of 27.13% 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 56.33% of value to its shares in past 6 months, showing an annual growth rate of -113.33% while that of industry is 18.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -7.90% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 675.14M for the same. And 4 analysts are in estimates of company making revenue of 671.07M in the next quarter. Company posted 732.4M and 719.7M of sales in current and next quarters respectively a year earlier.
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 -11.03% during past 5 years.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
Insiders are in possession of 3.00% of company’s total shares while institution are holding 87.37 percent of that, with stock having share float percentage of 90.07%. Investors also watch the number of corporate investors in a company very closely, which is 87.37% 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 $386.23 million. And as of 2024-06-30, it was holding 58.9668 of the company’s outstanding shares.
The second largest institutional holder is LEGAL & GENERAL GROUP PLC, which was holding about 7.85 million shares on 2024-06-30. The number of shares represents firm’s hold over 3.5713 of outstanding shares, having a total worth of $23.39 million.
