Raymond James Upgrades Rackspace Technology (RXT)
Nasdaq Fintel reports that on September 19, 2023, Raymond James upgraded their outlook for Rackspace Technology (NASDAQ:RXT) from Market Perform to Outperform .
Analyst Price Forecast Suggests 91.99% Upside
As of August 31, 2023, the average one-year price target for Rackspace Technology is 2.84. The forecasts range from a low of 1.52 to a high of $5.25. The average price target represents an increase of 91.99% from its latest reported closing price of 1.48.
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The projected annual revenue for Rackspace Technology is 3,090MM, an increase of 0.34%. The projected annual non-GAAP EPS is 0.09.
What is the Fund Sentiment?
There are 225 funds or institutions reporting positions in Rackspace Technology. This is a decrease of 47 owner(s) or 17.28% in the last quarter. Average portfolio weight of all funds dedicated to RXT is 0.03%, an increase of 14.45%. Total shares owned by institutions decreased in the last three months by 2.04% to 179,781K shares. The put/call ratio of RXT is 0.39, indicating a bullish outlook.