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The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
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S&P 500   4,330.00
DOW   34,070.42
QQQ   357.86
3 Compelling Reasons to Start Buying Undervalued Amazon
Options Trading Plan–Perfect For Beginners (Ad)
Stock market today: Wall Street higher, but likely not enough to this turn losing week into a winner
Analysts Recommend These Mining Stocks Before Metal Prices Rally
Options Trading Plan–Perfect For Beginners (Ad)
FedEx, Greenbrier rise; Cisco Systems, KB Home fall, Thursday, 9/21/2023
Challenges Hit Broadcom Stock, But Analysts See EPS Growth
BREAKING: Tiny biotech successfully treats blindness (Ad)
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
Renowned Federal Judge, 96, Faces Yearlong Suspension For Refusing to Retire
S&P 500   4,330.00
DOW   34,070.42
QQQ   357.86
3 Compelling Reasons to Start Buying Undervalued Amazon
Options Trading Plan–Perfect For Beginners (Ad)
Stock market today: Wall Street higher, but likely not enough to this turn losing week into a winner
Analysts Recommend These Mining Stocks Before Metal Prices Rally
Options Trading Plan–Perfect For Beginners (Ad)
FedEx, Greenbrier rise; Cisco Systems, KB Home fall, Thursday, 9/21/2023
Challenges Hit Broadcom Stock, But Analysts See EPS Growth
BREAKING: Tiny biotech successfully treats blindness (Ad)
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
Renowned Federal Judge, 96, Faces Yearlong Suspension For Refusing to Retire
S&P 500   4,330.00
DOW   34,070.42
QQQ   357.86
3 Compelling Reasons to Start Buying Undervalued Amazon
Options Trading Plan–Perfect For Beginners (Ad)
Stock market today: Wall Street higher, but likely not enough to this turn losing week into a winner
Analysts Recommend These Mining Stocks Before Metal Prices Rally
Options Trading Plan–Perfect For Beginners (Ad)
FedEx, Greenbrier rise; Cisco Systems, KB Home fall, Thursday, 9/21/2023
Challenges Hit Broadcom Stock, But Analysts See EPS Growth
BREAKING: Tiny biotech successfully treats blindness (Ad)
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
Renowned Federal Judge, 96, Faces Yearlong Suspension For Refusing to Retire
NASDAQ:RXT

Rackspace Technology (RXT) Stock Forecast, Price & News

$2.14
+0.06 (+2.88%)
(As of 09/21/2023 ET)
Compare
Today's Range
$1.99
$2.17
50-Day Range
$1.48
$2.89
52-Week Range
$1.05
$6.07
Volume
2.41 million shs
Average Volume
2.56 million shs
Market Capitalization
$462.00 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$3.14

Rackspace Technology MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
46.9% Upside
$3.14 Price Target
Short Interest
Healthy
12.23% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.55mentions of Rackspace Technology in the last 14 days
Based on 10 Articles This Week
Insider Trading
Acquiring Shares
$49,840 Bought Last Quarter
Proj. Earnings Growth
Growing
From ($0.18) to ($0.08) Per Share

Overall MarketRank

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

2.60 out of 5 stars

Business Services Sector

76th out of 317 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

13th out of 59 stocks


RXT stock logo

About Rackspace Technology (NASDAQ:RXT) Stock

Rackspace 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.

RXT Price History

RXT Stock News Headlines

This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
Dell a buy on AI and bolstered demand: 5 big analyst picks
See More Headlines
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RXT Company Calendar

Last Earnings
8/08/2023
Today
9/21/2023
Next Earnings (Estimated)
11/08/2023
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
6,800
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$3.14
High Stock Price Forecast
$5.00
Low Stock Price Forecast
$1.50
Forecasted Upside/Downside
+46.9%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
7 Analysts

Profitability

Net Income
$-804,800,000.00
Pretax Margin
-47.44%

Debt

Sales & Book Value

Annual Sales
$3.12 billion
Cash Flow
$5.63 per share
Book Value
$2.98 per share

Miscellaneous

Free Float
213,732,000
Market Cap
$462.00 million
Optionable
Optionable
Beta
1.70
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Key Executives

  • Mr. Amar MaletiraMr. Amar Maletira (Age 54)
    Pres, CEO & Director
    Comp: $1.62M
  • Mr. Srinivas Koushik (Age 59)
    Exec. VP & CTO
    Comp: $1.48M
  • Mr. Dharmendra Kumar Sinha (Age 60)
    Exec. VP & Pres of Public Cloud Bus. Unit
    Comp: $604.15k
  • Mr. Naushaza Molu (Age 50)
    Exec. VP & CFO
  • Mr. Mark A. Marino (Age 47)
    VP & Chief Accounting Officer
  • Robert Watson
    VP of Corp. Fin.
  • Sagar Hebbar
    Head of Investor Relations
  • Mr. Michael Bross
    Chief Legal Officer, Sr. VP & Corp. Sec.
  • Ms. Casey L. Shilling (Age 53)
    Chief Communications & Marketing Officer
  • Ms. Kellie Teal-Guess
    Chief HR Officer













RXT Stock - Frequently Asked Questions

Should I buy or sell Rackspace Technology stock right now?

7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last year. There are currently 2 sell ratings, 3 hold ratings and 2 buy ratings 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?

7 Wall Street research analysts have issued 1-year target prices for Rackspace Technology's shares. Their RXT share price forecasts range from $1.50 to $5.00. On average, they expect the company's stock price to reach $3.14 in the next twelve months. This suggests a possible upside of 46.9% 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 stock has decreased by 27.5% and is now trading at $2.14.
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) issued its quarterly earnings results on Tuesday, August, 8th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $746.30 million for 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 firm's revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS.

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 issued an update on its third quarter 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share (EPS) guidance of -$0.06--$0.04 for the period, compared to the consensus EPS 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 (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.

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 retail and institutional investors. Top institutional investors include Mackenzie Financial Corp (3.23%), BlackRock Inc. (2.69%), Geode Capital Management LLC (0.72%), Renaissance Technologies LLC (0.71%), State Street Corp (0.71%) and Charles Schwab Investment Management Inc. (0.66%). Insiders that own company stock include Amar Maletira, Anthony C Roberts, 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 $2.14.

How much money does Rackspace Technology make?

Rackspace Technology (NASDAQ:RXT) has a market capitalization of $462.00 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 9/22/2023 by MarketBeat.com Staff

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