On Monday, shares of Amazon.com.Inc., Apollo Global Management and Rackspace Technology, which recently was listed on NASDAQ, rose respectively by 1.1%, 2.45% and 10.3%.<\/p>\n
Positive news was reported by Reuters, about Amazon’s potential investment in Rackspace, which is both a partner and a competitor of the technology giant.<\/p>\n
Rackspace is an expert on multi-cloud solutions, helping companies transfer their workloads to the “cloud” of Amazon Web Services (AWS), as well as other competing cloud services from Microsoft, Google, and VMware.<\/p>\n
Apollo Global Management is the largest international investment company, owns a controlling stake of 65.1% of the votes in Rackspace.<\/p>\n
During its IPO, Rackspace was valued at $ 4.2 billion on the basis of shares in circulation. The IPO was unsuccessful, as Rackspace shares fell to 22% on the first day. According to the listing of documents, last year Rackspace had total revenue of $ 2.44 billion and losses of $ 102.3 million, compared with $ 2.45 billion in revenue and losses of $ 470.6 million in 2018.<\/p>\n
According to estimates of the Rackspace, its net loss in the second quarter of 2020 will range from $ 24 million to $ 44 million with revenues ranging from $ 655 million to $ 657 million.<\/p>\n
Customers of Rackspace are 40% participants of Fortune 100, the coverage market – 120 countries and about 6800 employees.<\/p>\n
Companies are not confirmed and not commented the information of Reuters, but according to the sources, if the Amazon purchase agreement of a minority stake in Rackspace will be held, for approval may take one to two months.<\/p>\n
Successful business of Amazon is still thriving, although the AWS division showed a slower growth rate than the 33% growth in the first quarter, business traditionally proved to be the largest source of profit for the company in the second quarter. Revenue from AWS cloud services grew by almost from 29% to $ 10.81 billion.<\/p>\n
From companies increased demand that “transfer their activities online” and growing in terms of pandemic, and experts say that in the future the tendency will continue.<\/p>\n
Despite on a strong growth of 72.2% since the beginning of the year, Amazon`s shares are receiving high ratings and forecasts on Wall Street: 38 analysts rate shares with a \u201cbuy\u201d rating and the another one with a \u201chold\u201d rating. At the same time, the average analytical target price of Amazon shares of $ 3725.59 means that analysts are giving them a growth potential of 17% in the next 12 months.<\/p>\n","protected":false},"featured_media":122425,"menu_order":0,"template":"","newscat":[9],"newstag":[24346,27697,27790,27698,24347,24595,27696,27695,27699],"issues":[],"class_list":["post-122424","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-amazon","newstag-apollo-global-management","newstag-awss-cloud-services","newstag-fortune-100","newstag-ipo","newstag-nasdaq","newstag-rackspace","newstag-oblachne-servys-aws","newstag-hmarni-servisy-aws"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/122424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/122425"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=122424"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=122424"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=122424"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=122424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}