Raymond James Upgrades Rackspace Technology (RXT)
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.
See our leaderboard of companies with the largest price target upside.
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.