Rackspace Technology (RXT) Gets a Sell from Barclays

In a report released today, Ramsey El Assal from Barclays maintained a Sell rating on Rackspace Technology (RXT – Research Report), with a price target of $1.00. The company’s shares closed yesterday at $1.68.

According to TipRanks, El Assal is a 3-star analyst with an average return of 1.7% and a 54.12% success rate. El Assal covers the Technology sector, focusing on stocks such as Fiserv, Fidelity National Info, and WEX.

The word on The Street in general, suggests a Hold analyst consensus rating for Rackspace Technology with a $2.30 average price target.

RXT market cap is currently $363.6M and has a P/E ratio of -0.43.

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Rackspace Technology (RXT) Company Description:

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.