Rackspace Technology (RXT) Stock: $11 Price Target And Outperform Rating

By Amit Chowdhry ● May 13, 2022
  • The shares of Rackspace Technology Inc. (NASDAQ: RXT) have received an $11 price target from Evercore ISI. These are the details.

The shares of Rackspace Technology Inc. (NASDAQ: RXT) have received an $11 price target from Evercore ISI. And Evercore ISI analyst Amit Daryanani is maintaining an “Outperform” rating on the shares.

Daryanani adjusted the rating following the company’s first-quarter results. Rackspace Technology had reported a Q1 EPS of $0.22, which was $0.01 better than analyst estimates of $0.21. And the revenue for the quarter was $776 million compared to the consensus estimate of $774.49 million.

Going forward, Rackspace Technology expects a Q2 2022 EPS of $0.15-$0.17, compared to the consensus of $0.23. And Rackspace Technology expects Q2 2022 revenue of between $780 million and $790 million, compared to the consensus of $800.7 million.

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