BMO Capital Reiterates Market Perform Rating on Rackspace Technology Inc. (RXT)

BMO Capital analyst Keith Bachman reiterated a Market Perform rating and $2.50 price target on Rackspace Technology Inc. (NASDAQ: RXT).

The analyst commented, "Rackspace delivered March quarter results above guidance, consistent with previous quarters, which we view positively. Moreover, June quarter guidance was about in line with consensus, and management discussed potential for positive sequential growth exiting the year. We believe Rackspace is still in the middle of a long recovery journey towards positive growth and meaningful profit improvement. We maintain our $2.50 target price, and we remain Market Perform."

For an analyst ratings summary and ratings history on Rackspace Technology Inc. click here. For more ratings news on Rackspace Technology Inc. click here.

Shares of Rackspace Technology Inc. closed at $2.16 yesterday.

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