Rackspace Technology (RXT) Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last twelve months. There are currently 2 sell ratings, 7 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" RXT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RXT, but not buy additional shares or sell existing shares.
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10 analysts have issued 1 year price targets for Rackspace Technology's shares. Their RXT share price forecasts range from $1.00 to $6.10. On average, they expect the company's share price to reach $3.42 in the next year. This suggests a possible upside of 94.2% from the stock's current price.
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Rackspace Technology's stock was trading at $2.95 on January 1st, 2023. Since then, RXT stock has decreased by 40.3% and is now trading at $1.76.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
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Rackspace Technology, Inc. (NASDAQ:RXT) issued its quarterly earnings data on Tuesday, May, 9th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $758.10 million for the quarter, compared to the consensus estimate of $757.27 million. Rackspace Technology had a negative net margin of 44.38% and a positive trailing twelve-month return on equity of 9.29%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share.

ETFs with the largest weight of Rackspace Technology (NASDAQ:RXT) stock in their portfolio include Direxion Work From Home ETF (WFH), First Trust Cloud Computing ETF (SKYY), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), Wedbush ETFMG Global Cloud Technology ETF (IVES).Pacer Data and Digital Revolution ETF (TRFK),

Rackspace Technology updated its second quarter 2023 earnings guidance on Tuesday, May, 9th. The company provided earnings per share (EPS) guidance of -$0.09--$0.07 for the period, compared to the consensus earnings per share estimate of -$0.01. The company issued revenue guidance of $725.00 million-$735.00 million, compared to the consensus revenue estimate of $749.49 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Rackspace Technology investors own include Advanced Micro Devices (AMD), NVIDIA (NVDA), DocuSign (DOCU), Marvell Technology (MRVL), QUALCOMM (QCOM), Block (SQ), CrowdStrike (CRWD), NIO (NIO), Alibaba Group (BABA) and Teladoc Health (TDOC).

(RXT) raised $754 million in an IPO on Wednesday, August 5th 2020. The company issued 33,500,000 shares at $21.00-$24.00 per share. Goldman Sachs, Citigroup, JPMorgan, RBC Capital Markets and Evercore ISI served as the underwriters for the IPO and Barclays, BMO Capital Markets, Credit Suisse, Deutsche Bank Securities, HSBC, LionTree, Siebert Williams Shank, Drexel Hamilton and Apollo Global Securities were co-managers.

Rackspace Technology trades on the NASDAQ under the ticker symbol "RXT."

Rackspace Technology's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Apollo Management Holdings L.P. (60.26%), Mackenzie Financial Corp (3.28%), First Trust Advisors LP (2.33%), BlackRock Inc. (1.99%), AQR Capital Management LLC (1.28%) and Geode Capital Management LLC (0.57%). Insiders that own company stock include Amar Maletira, Dhiren R Fonseca, Holly B Windham, Kevin M Jones, Michael Karanikolas, Shashank Samant, Subroto Mukerji, Thomas Wolf, Timothy Campos and Tolga Tarhan.
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Shares of RXT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of RXT stock can currently be purchased for approximately $1.76.

Rackspace Technology (NASDAQ:RXT) has a market capitalization of $378.54 million and generates $3.12 billion in revenue each year. The company earns $-804,800,000.00 in net income (profit) each year or ($6.50) on an earnings per share basis.

The company employs 6,800 workers across the globe.

Rackspace Technology's mailing address is 1 FANATICAL PLACE CITY OF WINDCREST, SAN ANTONIO TX, 78218. The official website for the company is www.rackspace.com. The company can be reached via phone at 210-312-4000 or via email at ir@rackspace.com.