Raymond James Remains a Buy on Rackspace Technology (RXT)

Raymond James analyst Frank Louthan maintained a Buy rating on Rackspace Technology (RXTResearch Report) today. The company’s shares closed last Thursday at $17.99.

According to TipRanks.com, Louthan is a 3-star analyst with an average return of 2.8% and a 58.2% success rate. Louthan covers the Technology sector, focusing on stocks such as Lumen Technologies, Cogent Comms, and GDS Holdings.

Currently, the analyst consensus on Rackspace Technology is a Strong Buy with an average price target of $26.29.

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The company has a one-year high of $26.43 and a one-year low of $15.25. Currently, Rackspace Technology has an average volume of 1.06M.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is neutral on the stock.

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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.