CTSH - Rackspace Technology: Exhibiting Profitable Growth

• Two years back, Rackspace moved away from its main role as an end-to-end technology solutions provider.
• The new strategy to focus purely on cloud is paying off with bookings increasing at double-digit figures.
• Also, the company has a differentiated product offering enabling it to address complexities faced by customers having to navigate through multiple clouds.
• Rackspace has become richly valued after the recent surge but exhibits highly profitable growth, a rare attribute among cloud service providers.
• A Wall Street analyst has recently upgraded the price target for the cloud play, but there is short-term volatility at stake.

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