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Rackspace Technology - RXT Stock Forecast, Price & News

$3.13
+0.02 (+0.64%)
(As of 02/7/2023 12:00 AM ET)
Add
Compare
Today's Range
$3.02
$3.17
50-Day Range
$2.55
$4.94
52-Week Range
$2.51
$13.62
Volume
1.21 million shs
Average Volume
1.46 million shs
Market Capitalization
$660.77 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$7.40

Rackspace Technology MarketRank™ Forecast

Analyst Rating
Hold
1.91 Rating Score
Upside/​Downside
136.4% Upside
$7.40 Price Target
Short Interest
Bearish
18.19% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
1.61mentions of Rackspace Technology in the last 14 days
Based on 4 Articles This Week
Insider Trading
Acquiring Shares
$455,000 Bought Last Quarter
Proj. Earnings Growth
-81.48%
From $0.54 to $0.10 Per Share

Overall MarketRank

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

1.70 out of 5 stars

Business Services Sector

263rd out of 322 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

48th out of 61 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

A gold storm is coming…
“We are in the early stages of a mania – the calm before the storm.”...
A gold storm is coming…
“We are in the early stages of a mania – the calm before the storm.”...
Rackspace Technology: Wait Until It Proves It Can Execute
Update on Recent Cybersecurity Incident
Rackspace Technology Hosted Exchange Environment Update
See More Headlines
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RXT Company Calendar

Last Earnings
11/09/2022
Today
2/07/2023
Next Earnings (Estimated)
2/28/2023
Fiscal Year End
12/31/2023

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
$7.40
High Stock Price Forecast
$18.00
Low Stock Price Forecast
$2.00
Forecasted Upside/Downside
+136.4%
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
$3.40 per share
Book Value
$6.32 per share

Miscellaneous

Free Float
206,677,000
Market Cap
$660.77 million
Optionable
Optionable
Beta
1.37

Key Executives

  • Mr. Amar MaletiraMr. Amar Maletira (Age 54)
    Pres, CFO, CEO & Director
    Comp: $1.43M
  • Ms. Holly B. Windham Esq.Ms. Holly B. Windham Esq. (Age 57)
    J.D., EVP, Chief Legal Officer, Chief Ethics & Compliance Officer, Sec. and Chief People Officer
    Comp: $933.15k
  • Mr. Greg Hrncir (Age 48)
    Chief Operations Officer
  • Mr. Mark A. Marino (Age 47)
    VP & Chief Accounting Officer
  • Robert Watson
    VP of Corp. Fin.
  • Mr. Srini Koushik (Age 59)
    Exec. VP & CTO
  • Mr. Joseph J. Crivelli
    VP of Investor Relations
  • Ms. Casey L. Shilling (Age 53)
    Chief Communications & Marketing Officer
  • Mr. Sandeep Bhargava (Age 50)
    Sr. VP and MD of Asia Pacific & Japan
  • Mr. Dharmendra Kumar Sinha (Age 60)
    Pres of Public Cloud Bus. Unit













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 twelve months. 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 1 year price objectives for Rackspace Technology's stock. Their RXT share price forecasts range from $2.00 to $18.00. On average, they predict the company's stock price to reach $7.40 in the next twelve months. This suggests a possible upside of 138.7% 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 increased by 5.1% and is now trading at $3.10.
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 Tuesday, February 28th 2023.
View our RXT earnings forecast
.

How were Rackspace Technology's earnings last quarter?

Rackspace Technology, Inc. (NASDAQ:RXT) posted its quarterly earnings data on Wednesday, November, 9th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company earned $787.60 million during the quarter, compared to the consensus estimate of $773.42 million. Rackspace Technology had a positive trailing twelve-month return on equity of 12.90% and a negative net margin of 21.64%.

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

Rackspace Technology issued an update on its fourth quarter 2022 earnings guidance on Friday, December, 9th. The company provided earnings per share (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 $738.00 million-$746.00 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 (IPO) 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 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 a variety of institutional and retail investors. Top institutional investors include Rice Hall James & Associates LLC (0.27%), Strs Ohio (0.08%), Counterpoint Mutual Funds LLC (0.03%), Cutler Group LLC CA (0.00%) and Concourse Financial Group Securities Inc. (0.00%). 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.
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 $3.10.

How much money does Rackspace Technology make?

Rackspace Technology (NASDAQ:RXT) has a market capitalization of $654.44 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 2/7/2023 by MarketBeat.com Staff