Rackspace Nears $275M in Restructuring Plan with Creditors: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2024
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Source: Benzinga
Rackspace reportedly finalizes creditor deal for $275M in new funds, restructuring debt and repayment terms.
Debt exchange offer to favor negotiating creditors, reflecting a trend in financial restructuring.
Analyst Views on RXT
Wall Street analysts forecast RXT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RXT is 1.48 USD with a low forecast of 1.30 USD and a high forecast of 1.75 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
0 Buy
3 Hold
0 Sell
Hold
Current: 0.827
Low
1.30
Averages
1.48
High
1.75
Current: 0.827
Low
1.30
Averages
1.48
High
1.75
About RXT
Rackspace Technology, Inc. is an end-to-end hybrid, hybrid cloud, and artificial intelligence (AI) solutions company. The Company designs, builds, and operates its customers’ cloud environments across all technology platforms, irrespective of technology stack or deployment model. The Company operates through two segments. Its Public Cloud segment is a service-centric, capital-light model providing value-added cloud solutions through managed services, elastic engineering and professional services offerings for customer environments hosted on the Amazon Web Services (AWS), Microsoft Azure and Google Cloud public cloud platforms. Its Private Cloud segment is a technology-forward, capital-intensive model providing managed service offerings for customer environments hosted in one of its data centers as well as in those owned by customers or by third parties. Private Cloud product portfolio includes Programmatic Infrastructure, Cloud Operating Systems, Platform-as-a-Service, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
