Cyxtera Technologies (NASDAQ:CYXT) Price Target Cut to $4.00

Posted by on Mar 19th, 2023

Cyxtera Technologies (NASDAQ:CYXT – Get Rating) had its price objective reduced by equities researchers at Credit Suisse Group from $5.00 to $4.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 187.77% from the company’s previous close.

CYXT has been the subject of a number of other research reports. Citigroup reduced their price objective on Cyxtera Technologies from $13.00 to $2.75 and set a “buy” rating for the company in a research note on Thursday, December 1st. Exane BNP Paribas started coverage on Cyxtera Technologies in a research note on Wednesday, December 14th. They issued an “underperform” rating on the stock. Truist Financial dropped their target price on shares of Cyxtera Technologies from $15.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. Finally, BNP Paribas began coverage on shares of Cyxtera Technologies in a research note on Wednesday, December 14th. They set an “underperform” rating and a $2.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.22.

Cyxtera Technologies Trading Down 8.6 %

CYXT opened at $1.39 on Friday. Cyxtera Technologies has a 12 month low of $1.32 and a 12 month high of $15.42. The firm has a market cap of $249.67 million, a price-to-earnings ratio of -1.15 and a beta of 1.46. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 3.41. The stock has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.78.

Institutional Trading of Cyxtera Technologies

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its holdings in Cyxtera Technologies by 48.0% in the fourth quarter. Alliancebernstein L.P. now owns 58,500 shares of the company’s stock valued at $112,000 after purchasing an additional 18,982 shares in the last quarter. State of Wyoming increased its holdings in shares of Cyxtera Technologies by 4,209.1% in the 4th quarter. State of Wyoming now owns 90,276 shares of the company’s stock valued at $173,000 after acquiring an additional 88,181 shares during the period. CI Private Wealth LLC purchased a new stake in Cyxtera Technologies in the 4th quarter valued at $57,000. Jane Street Group LLC boosted its stake in Cyxtera Technologies by 199.5% during the 4th quarter. Jane Street Group LLC now owns 37,744 shares of the company’s stock worth $72,000 after purchasing an additional 25,143 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Cyxtera Technologies by 34.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 56,800 shares of the company’s stock worth $109,000 after purchasing an additional 14,700 shares during the period.

About Cyxtera Technologies

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Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

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Analyst Recommendations for Cyxtera Technologies (NASDAQ:CYXT)

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