Rackspace Technology (NASDAQ:RXT) Announces Quarterly Earnings Results

Rackspace Technology (NASDAQ:RXT - Get Free Report) posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02, Zacks reports. The company had revenue of $665.40 million for the quarter, compared to analysts' expectations of $657.98 million. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. Rackspace Technology updated its Q2 2025 guidance to -0.060--0.040 EPS.

Rackspace Technology Stock Performance

Shares of NASDAQ RXT traded down $0.02 during mid-day trading on Thursday, hitting $1.27. The stock had a trading volume of 215,869 shares, compared to its average volume of 901,833. The business has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $2.19. The firm has a market cap of $300.30 million, a P/E ratio of -0.33 and a beta of 2.14. Rackspace Technology has a 1 year low of $1.22 and a 1 year high of $3.41.

Insider Buying and Selling at Rackspace Technology

In other Rackspace Technology news, CEO Amar Maletira sold 38,355 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $2.37, for a total transaction of $90,901.35. Following the transaction, the chief executive officer now owns 4,890,168 shares in the company, valued at approximately $11,589,698.16. This represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark A. Marino sold 20,217 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $37,805.79. Following the transaction, the chief financial officer now owns 1,917,446 shares in the company, valued at $3,585,624.02. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,154,204 shares of company stock valued at $2,384,960. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RXT shares. Barclays cut their price objective on shares of Rackspace Technology from $2.00 to $1.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada cut their price objective on shares of Rackspace Technology from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Monday. Finally, UBS Group cut their price objective on shares of Rackspace Technology from $2.95 to $1.90 and set a "neutral" rating for the company in a research report on Friday, May 9th.

About Rackspace Technology

Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.