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NASDAQ:RXT

Rackspace Technology - RXT Stock Forecast, Price & News

$4.54
-0.22 (-4.62%)
(As of 11/28/2022 12:00 AM ET)
Add
Compare
Today's Range
$4.52
$4.77
50-Day Range
$3.80
$5.92
52-Week Range
$3.70
$15.07
Volume
697,649 shs
Average Volume
1.24 million shs
Market Capitalization
$958.44 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$7.60

Rackspace Technology MarketRank™ Forecast

Analyst Rating
Hold
1.91 Rating Score
Upside/​Downside
67.4% Upside
$7.60 Price Target
Short Interest
Bearish
28.12% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.44mentions of Rackspace Technology in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-75.93%
From $0.54 to $0.13 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.02 out of 5 stars

Business Services Sector

159th out of 327 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

30th out of 65 stocks

RXT stock logo

About Rackspace Technology (NASDAQ:RXT) Stock

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. Its Apps & Cross Platform segment includes managed applications; managed security services in the areas of security threat assessment and prevention, threat detection and response, rapid remediation, governance, and risk and compliance assistance across multiple cloud platforms, as well as privacy and data protection services, including detailed access restrictions and reporting; data services; and professional services related to designing and implementing application, security, and data services. Rackspace Technology, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.

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RXT Stock News Headlines

Why Rackspace Technology Stock Skyrocketed on Thursday
Rackspace Technology Reports Third Quarter 2022 Results
Rackspace (RXT) Tops Q3 Earnings and Revenue Estimates
See More Headlines
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RXT Company Calendar

Last Earnings
11/15/2021
Today
11/28/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/28/2023

Industry, Sector and Symbol

Industry
Computer programming, data processing, & other computer related
Sub-Industry
N/A
Current Symbol
NASDAQ:RXT
Fax
N/A
Employees
6,600
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$7.60
High Stock Price Forecast
$18.00
Low Stock Price Forecast
$4.00
Forecasted Upside/Downside
+67.4%
Consensus Rating
Hold
Rating Score (0-4)
1.91
Research Coverage
11 Analysts

Profitability

Net Income
$-218,300,000.00
Pretax Margin
-22.40%

Debt

Sales & Book Value

Annual Sales
$3.01 billion
Cash Flow
$3.44 per share
Book Value
$6.32 per share

Miscellaneous

Free Float
206,677,000
Market Cap
$958.44 million
Optionable
Optionable
Beta
1.20

Key Executives

  • Mr. Amar  MaletiraMr. Amar Maletira (Age 53)
    Pres, CFO, CEO & Director
    Comp: $1.43M
  • Ms. Holly B. Windham Esq.Ms. Holly B. Windham Esq. (Age 56)
    J.D., EVP, Chief Legal Officer, Chief Ethics & Compliance Officer, Sec. and Chief People Officer
    Comp: $933.15k
  • Mr. Subroto  MukerjiMr. Subroto Mukerji (Age 61)
    EVP & Pres of Americas Region
    Comp: $1.03M
  • Mr. Martin H. Blackburn (Age 54)
    Managing Director of EMEA
    Comp: $1.17M
  • Mr. Greg Hrncir (Age 47)
    Chief Operations Officer
  • Mr. Mark A. Marino (Age 46)
    VP & Chief Accounting Officer
  • Robert Watson
    VP of Corp. Fin.
  • Mr. Srini Koushik (Age 58)
    EVP & CTO
  • Mr. Joseph J. Crivelli
    VP of Investor Relations
  • Ms. Casey L. Shilling (Age 52)
    Chief Communications & Marketing Officer













RXT Stock - Frequently Asked Questions

Should I buy or sell Rackspace Technology stock right now?

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last year. There are currently 2 sell ratings, 8 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.
View RXT analyst ratings
or view top-rated stocks.

What is Rackspace Technology's stock price forecast for 2023?

11 brokers have issued twelve-month price objectives for Rackspace Technology's stock. Their RXT share price forecasts range from $4.00 to $18.00. On average, they anticipate the company's share price to reach $7.60 in the next twelve months. This suggests a possible upside of 63.4% from the stock's current price.
View analysts price targets for RXT
or view top-rated stocks among Wall Street analysts.

How have RXT shares performed in 2022?

Rackspace Technology's stock was trading at $13.47 at the beginning of 2022. Since then, RXT shares have decreased by 65.5% and is now trading at $4.65.
View the best growth stocks for 2022 here
.

When is Rackspace Technology's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 28th 2023.
View our RXT earnings forecast
.

How were Rackspace Technology's earnings last quarter?

Rackspace Technology, Inc. (NASDAQ:RXT) issued its quarterly earnings results on Monday, November, 15th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business earned $763 million during the quarter, compared to analyst estimates of $756.03 million. Rackspace Technology had a negative net margin of 21.64% and a positive trailing twelve-month return on equity of 12.90%. The business's quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share.

What guidance has Rackspace Technology issued on next quarter's earnings?

Rackspace Technology updated its fourth quarter earnings guidance on Wednesday, November, 9th. The company provided EPS guidance of $0.04-$0.06 for the period, compared to the consensus EPS estimate of $0.07. The company issued revenue guidance of $772-$782 million, compared to the consensus revenue estimate of $781.17 million.

What other stocks do shareholders of Rackspace Technology own?

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).

When did Rackspace Technology IPO?

(RXT) raised $754 million in an initial public offering 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.

What is Rackspace Technology's stock symbol?

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

Who are Rackspace Technology's major shareholders?

Rackspace Technology's stock is owned by many different retail and institutional investors. Top institutional shareholders include First Trust Advisors LP (14.11%), Mackenzie Financial Corp (3.38%), Vanguard Group Inc. (3.20%), BlackRock Inc. (2.00%), Rice Hall James & Associates LLC (0.88%) and State Street Corp (0.52%). Insiders that own company stock include Amar Maletira, Dhiren R Fonseca, Holly B Windham, Kevin M Jones, Michael Karanikolas, Subroto Mukerji, Thomas Wolf, Timothy Campos and Tolga Tarhan.
View institutional ownership trends
.

How do I buy shares of Rackspace Technology?

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.
Compare Top Brokerages Here.

What is Rackspace Technology's stock price today?

One share of RXT stock can currently be purchased for approximately $4.65.

How much money does Rackspace Technology make?

Rackspace Technology (NASDAQ:RXT) has a market capitalization of $981.66 million and generates $3.01 billion in revenue each year. The company earns $-218,300,000.00 in net income (profit) each year or ($3.19) on an earnings per share basis.

How many employees does Rackspace Technology have?

The company employs 6,600 workers across the globe.

How can I contact Rackspace Technology?

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.

This page (NASDAQ:RXT) was last updated on 11/28/2022 by MarketBeat.com Staff