Barclays Keeps a Hold Rating on Rackspace Technology (RXT)

In a report issued on February 23, Ramsey El Assal from Barclays maintained a Hold rating on Rackspace Technology (RXTResearch Report), with a price target of $10.00. The company’s shares closed last Friday at $11.14.

According to, Assal is a 4-star analyst with an average return of 7.0% and a 52.6% success rate. Assal covers the Technology sector, focusing on stocks such as Automatic Data Processing, TELUS International (CDA), and Fidelity National Info.

Currently, the analyst consensus on Rackspace Technology is a Moderate Buy with an average price target of $14.31, implying a 31.2% upside from current levels. In a report issued on February 23, BMO Capital also downgraded the stock to Hold with a $10.50 price target.

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Rackspace Technology’s market cap is currently $2.34B and has a P/E ratio of -10.62.

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Rackspace Technology Inc is an end-to-end multicloud technology services company. It designs, builds and operates its customers’ cloud environments across all technology platforms, irrespective of technology stack or deployment model. The company’s solutions include Application Services; Data; Colocation; Managed Cloud; Managed Hosting; Professional Services; and Security & Compliance. It operates in three reportable segments Multicloud Services; Apps & Cross Platform; and OpenStack Public Cloud. It generates revenue through the sale of consumption-based contracts for its services offerings and from the sale of professional services related to designing and building customer solution.

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