NASDAQ:RXT Rackspace Technology (RXT) Stock Forecast, Price & News $2.30 -0.05 (-2.13%) (As of 11:28 AM ET) Add Compare Share Share Today's Range$2.25▼$2.3450-Day Range$1.48▼$2.6552-Week Range$1.05▼$6.07Volume276,412 shsAverage Volume1.87 million shsMarket Capitalization$496.55 millionP/E RatioN/ADividend YieldN/APrice Target$3.14 ProfileProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media Rackspace Technology MarketRank™ ForecastAnalyst RatingHold2.00 Rating ScoreUpside/Downside33.8% Upside$3.14 Price TargetShort InterestHealthy10.55% of Float Sold ShortDividend StrengthN/ASustainabilityN/ANews Sentiment0.69Based on 3 Articles This WeekInsider TradingAcquiring Shares$49,840 Bought Last QuarterProj. Earnings GrowthGrowingFrom ($0.18) to ($0.08) Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.72 out of 5 starsBusiness Services Sector62nd out of 320 stocksComputer Programming, Data Processing, & Other Computer Related Industry8th out of 57 stocks 4.0 Analyst's Opinion Consensus RatingRackspace Technology has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 2 buy ratings, 3 hold ratings, and 2 sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $3.14, Rackspace Technology has a forecasted upside of 33.8% from its current price of $2.35.Amount of Analyst CoverageRackspace Technology has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock. Previous Next 4.0 Short Interest Percentage of Shares Shorted10.55% of the float of Rackspace Technology has been sold short.Short Interest Ratio / Days to CoverRackspace Technology has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Rackspace Technology has recently decreased by 12.67%, indicating that investor sentiment is improving significantly. Previous Next 0.0 Dividend Strength Dividend YieldRackspace Technology does not currently pay a dividend.Dividend GrowthRackspace Technology does not have a long track record of dividend growth. Previous Next N/A Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreThere is no current Upright™ data available for RXT. Previous Next 2.6 News and Social Media Coverage News SentimentRackspace Technology has a news sentiment score of 0.69. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Business Services companies.News Coverage This WeekMarketBeat has tracked 3 news articles for Rackspace Technology this week, compared to 4 articles on an average week.Search Interest7 people have searched for RXT on MarketBeat in the last 30 days. This is an increase of 17% compared to the previous 30 days.MarketBeat Follows5 people have added Rackspace Technology to their MarketBeat watchlist in the last 30 days. This is an increase of 67% compared to the previous 30 days. Previous Next 3.3 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Rackspace Technology insiders have bought more of their company's stock than they have sold. Specifically, they have bought $49,840.00 in company stock and sold $0.00 in company stock.Percentage Held by InsidersOnly 1.00% of the stock of Rackspace Technology is held by insiders.Percentage Held by Institutions82.48% of the stock of Rackspace Technology is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 1.3 Earnings and Valuation Earnings GrowthEarnings for Rackspace Technology are expected to grow in the coming year, from ($0.18) to ($0.08) per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Rackspace Technology is -0.36, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Price to Earnings Ratio vs. SectorThe P/E ratio of Rackspace Technology is -0.36, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Price to Book Value per Share RatioRackspace Technology has a P/B Ratio of 0.79. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Rackspace Technology (NASDAQ:RXT) StockRackspace Technology, Inc. operates as a multi cloud technology services company the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through two segments, Multicloud Services and Apps & Cross Platform. The 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. The 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.Read More RXT Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart RXT Stock News HeadlinesOctober 1, 2023 | americanbankingnews.comRackspace Technology (NASDAQ:RXT) Trading 4.8% Higher September 30, 2023 | americanbankingnews.comRackspace Technology, Inc. (NASDAQ:RXT) Receives Consensus Rating of "Hold" from AnalystsOctober 2, 2023 | Edge On The Street (Ad)Gold Could Be Heading for Record Highs - But How to Play It?According to FX Empire, the gold forecast is now bullish, with support for a $3,000 target in 2024. The big question is how to play it. Some investors are discovering a unique gold investment alternative that sidesteps the major issues with gold mining stocks or physical gold. September 19, 2023 | in.investing.comRackspace Technology raised at Raymond James as turnaround traction gathers paceSeptember 19, 2023 | msn.comStocks making the biggest moves midday: Instacart, Disney, Planet Fitness, Rackspace and moreSeptember 19, 2023 | msn.comRaymond James Upgrades Rackspace Technology (RXT)September 19, 2023 | msn.comRackspace surges ~40% after Raymond James upgrades on turnaround effortsSeptember 19, 2023 | finance.yahoo.comArtificial Intelligence (AI) Initiatives Driving Increased Focus on Cybersecurity, According to New Rackspace Technology Survey, in Association with MicrosoftOctober 2, 2023 | Edge On The Street (Ad)Gold Could Be Heading for Record Highs - But How to Play It?According to FX Empire, the gold forecast is now bullish, with support for a $3,000 target in 2024. The big question is how to play it. Some investors are discovering a unique gold investment alternative that sidesteps the major issues with gold mining stocks or physical gold. September 19, 2023 | msn.comDell a buy on AI and bolstered demand: 5 big analyst picksSeptember 19, 2023 | finance.yahoo.comDell a buy on AI and bolstered demand: 5 big analyst picksSeptember 14, 2023 | msn.comRackspace Technology: Attractive TAM But Challenges Persist In The Near TermSeptember 13, 2023 | finance.yahoo.comRackspace Technology Taps Palo Alto Networks for Comprehensive Cybersecurity SolutionsSeptember 12, 2023 | finance.yahoo.comRackspace Technology Launches Intelligent Co-worker for the Enterprise to Make Generative Artificial Intelligence Accessible WorldwideSeptember 5, 2023 | benzinga.comRackspace Technology is Named Inspiring Workplaces Winner in EMEA, North America, and Australasia – All Three of the Program's Award RegionsSeptember 5, 2023 | finance.yahoo.comRackspace Technology is Named Inspiring Workplaces Winner in EMEA, North America, and Australasia – All Three of the Program’s Award RegionsSeptember 1, 2023 | finance.yahoo.comNew Worth and Associates VP talks Rackspace as a tenant, plans to scaleAugust 31, 2023 | msn.comRackspace Technology (RXT) Price Target Increased by 30.00% to 2.84August 29, 2023 | finance.yahoo.comRackspace Technology Launches FAIR AI Diagnostic, Allowing Organizations to Baseline AI Readiness and Receive Tailored Recommendations on Next Steps in MinutesAugust 28, 2023 | finance.yahoo.comRackspace Technology Participates in Google Cloud Next to Showcase the Company’s Google Cloud Offerings and PartnershipsAugust 22, 2023 | finanznachrichten.deRackspace Technology, Inc.: Rackspace Technology Announces New Professional Services Collaboration with Google Cloud to Accelerate VM MigrationsAugust 22, 2023 | finance.yahoo.comRackspace Technology Announces New Professional Services Collaboration with Google Cloud to Accelerate VM MigrationsAugust 16, 2023 | finance.yahoo.comRackspace Technology Participates in VMware Explore to Showcase the Company’s Private Cloud PortfolioAugust 15, 2023 | finance.yahoo.comRackspace Technology Ranked as a Leader in Two ISG Provider Lens™ Google Cloud Partner Ecosystem U.S. Reports for Second Year in a RowAugust 9, 2023 | msn.comBMO Capital Maintains Rackspace Technology (RXT) Market Perform RecommendationAugust 9, 2023 | seekingalpha.comRackspace Technology, Inc. 2023 Q2 - Results - Earnings Call PresentationAugust 8, 2023 | finanznachrichten.deRackspace Technology, Inc.: Rackspace Technology Reports Second Quarter 2023 ResultsSee More Headlines Receive RXT Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Rackspace Technology and its competitors with MarketBeat's FREE daily newsletter. Email Address RXT Company Calendar Last Earnings8/08/2023Today10/02/2023Next Earnings (Estimated)11/08/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ Industry Computer programming, data processing, & other computer related Sub-IndustryN/A SectorBusiness Services Current SymbolNASDAQ:RXT CUSIPN/A CIK1810019 Webwww.rackspace.com Phone210-312-4000FaxN/AEmployees6,800Year FoundedN/APrice Target and Rating Average Stock Price Forecast$3.14 High Stock Price Forecast$5.00 Low Stock Price Forecast$1.50 Forecasted Upside/Downside+33.8%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage7 Analysts Profitability EPS (Most Recent Fiscal Year)($6.44) Trailing P/E RatioN/A Forward P/E RatioN/A P/E GrowthN/ANet Income$-804,800,000.00 Net Margins-44.32% Pretax Margin-47.44% Return on Equity4.08% Return on Assets0.30% Debt Debt-to-Equity Ratio111.44 Current Ratio1.18 Quick Ratio1.18 Sales & Book Value Annual Sales$3.12 billion Price / Sales0.16 Cash Flow$5.22 per share Price / Cash Flow0.45 Book Value$2.98 per share Price / Book0.79Miscellaneous Outstanding Shares215,890,000Free Float213,732,000Market Cap$507.34 million OptionableOptionable Beta1.65 Ten Starter Stocks For Beginners to Buy NowJust getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.Get This Free Report Key ExecutivesMr. Amar Maletira (Age 54)Pres, CEO & Director Comp: $1.62MMr. Srinivas Koushik (Age 59)Exec. VP and Pres of Technology & Sustainability Comp: $1.48MMr. Dharmendra Kumar Sinha (Age 60)Exec. VP & Pres of Public Cloud Bus. Unit Comp: $604.15kMr. Naushaza Molu (Age 50)Exec. VP & CFO Mr. Mark A. Marino (Age 47)VP & Chief Accounting Officer Robert WatsonVP of Corp. Fin.Sagar HebbarHead of Investor RelationsMr. Michael BrossChief Legal Officer, Sr. VP & Corp. Sec.Ms. Casey L. Shilling (Age 53)Chief Communications & Marketing Officer Ms. Kellie Teal-GuessChief HR OfficerMore ExecutivesKey CompetitorsCardlyticsNASDAQ:CDLXVimeoNASDAQ:VMEOViant TechnologyNASDAQ:DSPOutbrainNASDAQ:OBTremor InternationalNASDAQ:TRMRView All CompetitorsInsiders & InstitutionsBluefin Capital Management LLCSold 79,300 shares on 9/11/2023Ownership: 0.000%California State Teachers Retirement SystemBought 5,329 shares on 8/21/2023Ownership: 0.034%Wells Fargo & Company MNBought 34,460 shares on 8/15/2023Ownership: 0.201%Alliancebernstein L.P.Bought 61,337 shares on 8/15/2023Ownership: 0.093%Anthony C RobertsBought 22,350 shares on 8/15/2023Total: $49,840.50 ($2.23/share)View All Insider TransactionsView All Institutional Transactions RXT Stock - Frequently Asked Questions Should I buy or sell Rackspace Technology stock right now? 7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last twelve months. There are currently 2 sell ratings, 3 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street equities 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? 7 analysts have issued 1-year price objectives for Rackspace Technology's shares. Their RXT share price forecasts range from $1.50 to $5.00. On average, they anticipate the company's share price to reach $3.14 in the next twelve months. This suggests a possible upside of 33.8% 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 2023? Rackspace Technology's stock was trading at $2.95 at the start of the year. Since then, RXT shares have decreased by 20.3% and is now trading at $2.35. View the best growth stocks for 2023 here. When is Rackspace Technology's next earnings date? The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023. View our RXT earnings forecast. How were Rackspace Technology's earnings last quarter? Rackspace Technology, Inc. (NASDAQ:RXT) posted its quarterly earnings results on Tuesday, August, 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business earned $746.30 million during the quarter, compared to the consensus estimate of $730.44 million. Rackspace Technology had a negative net margin of 44.32% and a positive trailing twelve-month return on equity of 4.08%. The company's revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. What ETF holds Rackspace Technology's stock ? Direxion Work From Home ETF holds 309,581 shares of RXT stock, representing 2.11% of its portfolio. What guidance has Rackspace Technology issued on next quarter's earnings? Rackspace Technology updated its third quarter 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share guidance of -$0.06--$0.04 for the period, compared to the consensus earnings per share estimate of -$0.05. The company issued revenue guidance of $722.00 million-$732.00 million, compared to the consensus revenue estimate of $730.44 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 a price of $21.00-$24.00 per share. Goldman Sachs, Citigroup, JPMorgan, RBC Capital Markets and Evercore ISI acted 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." 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 $2.35. How much money does Rackspace Technology make? Rackspace Technology (NASDAQ:RXT) has a market capitalization of $507.34 million and generates $3.12 billion in revenue each year. The company earns $-804,800,000.00 in net income (profit) each year or ($6.44) on an earnings per share basis. How many employees does Rackspace Technology have? The company employs 6,800 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 10/2/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding Rackspace Technology, Inc. Please log in to your account or sign up in order to add this asset to your watchlist. Get 30 Days of MarketBeat All Access Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report. Advanced Stock Screeners and Research Tools Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis. Start Your 30-Day Free Trial Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer. Sign In Create Account Your Email Address: Your Password: or Sign in with Facebook Sign in with Google Forgot your password? Your Email Address: Choose a Password: Create My Account (Free) or Sign in with Facebook Sign in with Google By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.