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Rackspace Know-how (NASDAQ:RXT – Get Rating) up to date its third quarter 2022 earnings steering on Monday. The corporate supplied EPS steering of $0.08-$0.10 for the interval, in comparison with the consensus EPS estimate of $0.09. The corporate issued income steering of $769.00 million-$779.00 million, in comparison with the consensus income estimate of $773.19 million.
Analysts Set New Worth Targets
A variety of analysts lately weighed in on RXT shares. JPMorgan Chase & Co. reduce shares of Rackspace Know-how from a impartial score to an underweight score and decreased their value goal for the inventory from $7.00 to $5.00 in a analysis observe on Tuesday, August sixteenth. Raymond James reduce shares of Rackspace Know-how from an outperform score to a market carry out score in a analysis observe on Wednesday, August tenth. Credit score Suisse Group decreased their value goal on shares of Rackspace Know-how from $12.00 to $10.00 and set an outperform score for the corporate in a analysis observe on Wednesday, August tenth. Royal Financial institution of Canada reduce shares of Rackspace Know-how from an outperform score to a sector carry out score and decreased their value goal for the inventory from $9.00 to $7.00 in a analysis observe on Thursday, August eleventh. Lastly, William Blair reduce shares of Rackspace Know-how from an outperform score to a market carry out score in a analysis observe on Wednesday, August tenth. Two analysis analysts have rated the inventory with a promote score, seven have assigned a maintain score and two have issued a purchase score to the corporate. In response to knowledge from MarketBeat.com, the corporate has a mean score of Maintain and a mean goal value of $9.10.
Rackspace Know-how Inventory Efficiency
Shares of RXT opened at $4.42 on Monday. The corporate has a present ratio of 1.23, a fast ratio of 1.23 and a debt-to-equity ratio of two.83. The corporate has a 50-day easy shifting common of $5.32 and a 200-day easy shifting common of $7.45. Rackspace Know-how has a 52-week low of $4.02 and a 52-week excessive of $18.50.
Rackspace Know-how (NASDAQ:RXT – Get Rating) final posted its earnings outcomes on Tuesday, August ninth. The corporate reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Rackspace Know-how had a adverse internet margin of 6.37% and a constructive return on fairness of 14.07%. The agency had income of $772.20 million in the course of the quarter, in comparison with the consensus estimate of $784.72 million. Throughout the identical interval final 12 months, the agency posted $0.17 EPS. The agency’s income for the quarter was up 3.8% on a year-over-year foundation. On common, analysts predict that Rackspace Know-how will publish 0.55 earnings per share for the present 12 months.
Institutional Buyers Weigh In On Rackspace Know-how
A variety of hedge funds and different institutional buyers have lately modified their holdings of the corporate. First Belief Advisors LP grew its holdings in shares of Rackspace Know-how by 3.0% in the course of the first quarter. First Belief Advisors LP now owns 17,086,436 shares of the corporate’s inventory price $190,685,000 after shopping for a further 498,198 shares within the final quarter. Mackenzie Monetary Corp boosted its place in shares of Rackspace Know-how by 0.9% within the first quarter. Mackenzie Monetary Corp now owns 7,197,859 shares of the corporate’s inventory price $80,328,000 after buying a further 66,423 shares over the last quarter. Vanguard Group Inc. boosted its place in shares of Rackspace Know-how by 54.2% within the first quarter. Vanguard Group Inc. now owns 5,291,508 shares of the corporate’s inventory price $59,054,000 after buying a further 1,860,141 shares over the last quarter. Authorized & Basic Group Plc boosted its place in shares of Rackspace Know-how by 6.7% within the second quarter. Authorized & Basic Group Plc now owns 2,778,590 shares of the corporate’s inventory price $19,923,000 after buying a further 173,522 shares over the last quarter. Lastly, Rice Corridor James & Associates LLC boosted its place in shares of Rackspace Know-how by 8.9% within the first quarter. Rice Corridor James & Associates LLC now owns 2,731,145 shares of the corporate’s inventory price $30,480,000 after buying a further 222,187 shares over the last quarter. 88.15% of the inventory is at the moment owned by hedge funds and different institutional buyers.
About Rackspace Know-how
Rackspace Know-how, Inc operates as a multi cloud expertise companies firm worldwide. It operates via Multicloud Providers and Apps & Cross Platform segments. The corporate’s Multicloud Providers section offers private and non-private cloud managed companies, which permit prospects to find out, handle, and optimize the suitable infrastructure, platforms, and companies; {and professional} companies associated to designing and constructing multi cloud options and cloud-native functions.
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