Currently, there are 227.60M common shares owned by the public and among those 59.04M shares have been available to trade.
The company’s stock has a 5-day price change of -3.04% and 0.35% over the past three months. RXT shares are trading 29.86% year to date (YTD), with the 12-month market performance up to 66.86% higher. It has a 12-month low price of $1.45 and touched a high of $3.41 over the same period. RXT has an average intraday trading volume of 819.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.24%, 15.13%, and 18.55% respectively.
Institutional ownership of Rackspace Technology Inc (NASDAQ: RXT) shares accounts for 17.20% of the company’s 227.60M shares outstanding.
It has a market capitalization of $653.13M and a beta (3y monthly) value of 2.05. The earnings-per-share (ttm) stands at -$3.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.06% over the week and 6.16% over the month.
Earnings per share for the fiscal year are expected to decrease by -83.47%, and 59.41% over the next financial year.
Looking at the support for the RXT, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on November 07, 2023, with the firm’s price target at $1.40. Raymond James coverage for the Rackspace Technology Inc (RXT) stock in a research note released on September 19, 2023 offered a Outperform rating with a price target of $3.50. Citigroup was of a view on July 25, 2023 that the stock is Sell, while Evercore ISI gave the stock In-line rating on October 11, 2022, issuing a price target of $9- $5. JP Morgan on their part issued Underweight rating on August 16, 2022.
