Barclays Maintains Underweight Rating for Rackspace Tech: Here's What You Need To Know

Barclays has decided to maintain its Underweight rating of Rackspace Tech RXT and lower its price target from $5.00 to $4.00.

Shares of Rackspace Tech are trading up 0.12% over the last 24 hours, at $4.08 per share.

A move to $4.00 would account for a 2.08% decline from the current share price.

About Rackspace Tech

Rackspace Technology Inc is an end-to-end 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; 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 custom solutions.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.