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Rackspace Technology See As Much As 43% Price Target Cut As Q2 Performance Disappoints Analysts

Benzinga LogoBenzinga1 mo ago

Rackspace Technology See As Much As 43% Price Target Cut As Q2 Performance Disappoints Analysts - Benzinga

Quick Summary:

Given the disruption to the sales team and other parts of the organization that is inherently part of that process, he believed growth recovery and improved FCF is 9-12 months away. 

Louthan believed the new Head of Public Cloud comes with a strong background.

Rackspace Technology, Inc (NASDAQ: RXT) reported second-quarter FY22 revenue growth of 4% year-on-year to $772 million, missing the consensus of $792.9 million.Non-GAAP EPS of $0.17 beat the consensus of $0.16.


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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Topics: Benzinga Reiteration Downgrades Briefs Analyst Ratings Small Cap Price Target Analyst Color RXT News Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-10, 21:24:08

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Reading Time: 2 minutes read

Article Length: 278 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 128588

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About Benzinga

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 19 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #53

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