Rackspace Technology (RXT) Stock Forecast & Price Target

$2.42

-0.08 (-3.20%)

(As of 09/18/2024 ET)

Rackspace Technology - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Reduce
Based on 7 Analyst Ratings

Based on 7 Wall Street analysts who have issued ratings for Rackspace Technology in the last 12 months, the stock has a consensus rating of "Reduce." Out of the 7 analysts, 2 have given a sell rating, 4 have given a hold rating, and 1 has given a buy rating for RXT.

Consensus Price Target

$2.15
-11.16% Downside

High Forecast	$3.00
Average Forecast	$2.15
Low Forecast	$1.00

According to the 7 analysts' twelve-month price targets for Rackspace Technology, the average price target is $2.15. The highest price target for RXT is $3.00, while the lowest price target for RXT is $1.00. The average price target represents a forecasted downside of -11.16% from the current price of $2.42.

Type	Current Forecast 9/19/23 to 9/18/24	1 Month Ago 8/20/23 to 8/19/24	3 Months Ago 6/21/23 to 6/20/24	1 Year Ago 9/19/22 to 9/19/23
Consensus Rating	Reduce	Reduce	Hold	Hold
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	1 Buy rating(s)	2 Buy rating(s)	2 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	4 Hold rating(s)	3 Hold rating(s)
Sell	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$2.15	$2.15	$2.31	$3.14
Forecasted Upside	-11.16% Downside	31.04% Upside	42.66% Upside	23.19% Upside

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RXT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

RXT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Rackspace Technology Stock vs. The Competition

Type	Rackspace Technology	Business Services Companies	S&P 500
Consensus Rating Score	1.86	2.66	2.50
Consensus Rating	Reduce	Moderate Buy	Moderate Buy
Predicted Upside	-11.16% Downside	265.27% Upside	7.94% Upside
News Sentiment Rating	Neutral News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
8/16/2024	UBS Group 4 of 5 stars	Boost Target	Neutral ➝ Neutral	$2.10 ➝ $2.30	+0.88%
3/13/2024	Evercore ISI 2 of 5 stars	Lower Target	In-Line ➝ In-Line	$3.00 ➝ $2.00	+25.39%
3/13/2024	BMO Capital Markets 4 of 5 stars	Boost Target	Market Perform ➝ Market Perform	$1.50 ➝ $2.50	+56.74%
3/13/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Sector Perform ➝ Sector Perform	$3.00	+88.09%
3/13/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Outperform ➝ Outperform	$3.50 ➝ $3.00	+88.09%
11/20/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Sell ➝ Sell	$1.50 ➝ $1.25	-15.54%
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10/23/2023	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Underweight ➝ Underweight	$2.00 ➝ $1.00	-25.65%
8/10/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$1.50 ➝ $2.50	+11.11%
8/7/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$3.50 ➝ $4.15	+103.43%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 09:28 PM ET.

RXT Forecast - Frequently Asked Questions

What is Rackspace Technology's forecast for 2024?: According to the research reports of 7 Wall Street equities research analysts, the average twelve-month stock price forecast for Rackspace Technology is $2.15, with a high forecast of $3.00 and a low forecast of $1.00.
Should I buy or sell Rackspace Technology stock right now?: 7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last twelve months. There are currently 2 sell ratings, 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" RXT shares.
Does Rackspace Technology's stock price have much upside?: According to analysts, Rackspace Technology's stock has a predicted upside of 31.04% based on their 12-month stock forecasts.
What analysts cover Rackspace Technology?: Rackspace Technology has been rated by research analysts at UBS Group in the past 90 days.
Do Wall Street analysts like Rackspace Technology more than its competitors?: Analysts like Rackspace Technology less than other "business services" companies. The consensus rating for Rackspace Technology is Reduce while the average consensus rating for "business services" companies is Moderate Buy. Learn more on how RXT compares to other companies.