Rackspace TechnologyRXT
Market Cap: $563M
About: Rackspace Technology Inc is an end-to-end, hybrid, multi cloud 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; Cloud; Managed Hosting; Professional Services; and Security & Compliance. It operates in segments namely, Private Cloud, and Public Cloud. It generates revenue through the sale of consumption-based contracts for its service offerings and from the sale of professional services related to designing and building custom solutions.
Employees: 5,800
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
87% more capital invested
Capital invested by funds: $277M [Q1] → $517M (+$240M) [Q2]
10% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 30
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
3.47% less ownership
Funds ownership: 80.94% [Q1] → 77.48% (-3.47%) [Q2]
6% less funds holding
Funds holding: 94 [Q1] → 88 (-6) [Q2]
29% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 21
81% less call options, than puts
Call options by funds: $444K | Put options by funds: $2.36M
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
UBS Kevin Mcveigh 58% 1-year accuracy 11 / 19 met price target | 8%downside $2.30 | Neutral Maintained | 16 Aug 2024 |