- 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.
For further details see:
Rackspace Technology: Exhibiting Profitable Growth