Rackspace Technology (RXT) to Release Earnings on Thursday

Rackspace Technology (NASDAQ:RXT - Get Free Report) is projected to announce its Q1 2025 earnings results after the market closes on Thursday, May 8th. Analysts expect Rackspace Technology to post earnings of ($0.08) per share and revenue of $657.98 million for the quarter. Rackspace Technology has set its Q1 2025 guidance at -0.090--0.070 EPS.

Rackspace Technology (NASDAQ:RXT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The business had revenue of $685.60 million during the quarter, compared to analyst estimates of $674.85 million.

Rackspace Technology Stock Performance

Shares of Rackspace Technology stock traded down $0.03 during midday trading on Tuesday, reaching $1.38. 155,766 shares of the company's stock traded hands, compared to its average volume of 932,980. Rackspace Technology has a 52 week low of $1.24 and a 52 week high of $3.41. The company's 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.24. The company has a market cap of $326.41 million, a price-to-earnings ratio of -0.36 and a beta of 2.14.

Analysts Set New Price Targets

Separately, Barclays cut their target price on Rackspace Technology from $2.00 to $1.00 and set an "underweight" rating on the stock in a report on Friday, April 25th.

Insider Buying and Selling at Rackspace Technology

In other Rackspace Technology news, CEO Amar Maletira sold 521,840 shares of Rackspace Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $1.87, for a total value of $975,840.80. Following the transaction, the chief executive officer now directly owns 4,368,328 shares of the company's stock, valued at $8,168,773.36. The trade was a 10.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark A. Marino sold 202,230 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $2.61, for a total value of $527,820.30. Following the completion of the sale, the chief financial officer now directly owns 1,713,126 shares of the company's stock, valued at $4,471,258.86. This represents a 10.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,154,204 shares of company stock worth $2,384,960 over the last 90 days. Insiders own 2.00% of the company's stock.

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.