Rackspace Technology (NASDAQ:RXT) updated its second quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $0.220-$0.240 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.220. The company issued revenue guidance of $741 million-$744 million, compared to the consensus revenue estimate of $740.66 million.
Shares of RXT opened at $18.18 on Thursday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $3.78 billion and a PE ratio of -13.27. Rackspace Technology has a 1 year low of $15.25 and a 1 year high of $26.43. The stock has a 50 day moving average of $19.85.
Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings results on Monday, May 10th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.02. The firm had revenue of $725.90 million for the quarter, compared to analysts' expectations of $724.67 million. Rackspace Technology had a positive return on equity of 14.18% and a negative net margin of 9.41%. The business's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, analysts anticipate that Rackspace Technology will post 1.01 earnings per share for the current fiscal year.
Several brokerages have recently commented on RXT. reissued a buy rating and issued a $28.00 target price on shares of Rackspace Technology in a report on Tuesday, June 29th. Zacks Investment Research upgraded Rackspace Technology from a hold rating to a buy rating and set a $21.00 target price on the stock in a report on Tuesday. William Blair started coverage on Rackspace Technology in a research note on Wednesday, March 31st. They issued an outperform rating for the company. Finally, Raymond James upgraded shares of Rackspace Technology from an outperform rating to a strong-buy rating in a research report on Tuesday, May 18th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $27.42.
In other Rackspace Technology news, Director Timothy Campos sold 11,992 shares of the firm's stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $19.17, for a total transaction of $229,886.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin M. Jones purchased 5,409 shares of Rackspace Technology stock in a transaction dated Thursday, May 13th. The stock was bought at an average price of $18.44 per share, with a total value of $99,741.96. Following the acquisition, the chief executive officer now directly owns 777,279 shares of the company's stock, valued at $14,333,024.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 14,798 shares of company stock valued at $274,954 and have sold 71,318 shares valued at $1,395,116. 0.76% of the stock is currently owned by insiders.
About Rackspace Technology
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications.
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