Rackspace Technology (RXT) Stock Forecast, Price & News

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.
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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.
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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.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
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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.

Direxion Work From Home ETF holds 309,581 shares of RXT stock, representing 2.11% of its portfolio.

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.

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 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.

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

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 $2.35.

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.

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.