Rackspace Technology Inc (NASDAQ:RXT) does about 1.34M shares in volume on a normal day but saw 753404 shares change hands in Friday trading. The company now has a market cap of 408.12M USD. Its current market price is $1.83, marking an increase of 4.89% compared to the previous close of $1.74. The 52 week high reached by this stock is $3.10 whilst the lowest price level in 52 weeks is $1.05.
Rackspace Technology Inc (RXT) has a 20-day trading average at $1.6773 and the current price is -41.13% off the 52-week high compared with 73.81% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.7538 and its 200-day simple moving average is $1.7945. If we look at the stock’s price movements over the week, volatility stands at 4.77%, which increases to 5.98% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 59.55 to suggest the stock is neutral.
The consensus objective for the share price is $2.19, suggesting that the stock has a potential upside of 16.44% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 07, 2023 when UBS initiated the stock to “Neutral” and issued a price target of $1.40. Raymond James upgraded the stock to “Outperform” from Mkt Perform on September 19, 2023 at a price target of $3.50. Citigroup downgraded its price target at $1.25-$1.50.
Rackspace Technology Inc (RXT) stock is up 4.29% over the week and -0.82% over the past month. Its price is -8.75% year-to-date and 37.22% over the past year.
To reach the target analysts have set, the stock logically needs to grow 16.44 percent from here.
The company has a return on investment of -26.85% and return on equity of -352.76%. The beta has a value of 1.84. Price to sales ratio is 0.14.
