NASDAQ:RXT

Rackspace Technology (RXT) Stock Price, News & Analysis

$1.65
+0.05 (+3.13%)
(As of 04/22/2024 ET)
Today's Range
$1.58
$1.65
50-Day Range
$1.48
$2.21
52-Week Range
$1.05
$3.10
Volume
538,078 shs
Average Volume
971,266 shs
Market Capitalization
$362.60 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$2.31

Rackspace Technology MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
40.1% Upside
$2.31 Price Target
Short Interest
Bearish
12.97% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
N/A
Insider Trading
Selling Shares
$318,164 Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.38) to $0.05 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

0.99 out of 5 stars

Business Services Sector

264th out of 305 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

53rd out of 59 stocks

RXT stock logo

About Rackspace Technology Stock (NASDAQ:RXT)

Rackspace Technology, Inc. operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services. It also helps customers establish governance, operational, and architectural frameworks to mitigate risks and reduce inefficiencies to manage costs, achieve industry-specific compliance objectives, and enhance security. In addition, the company offers managed applications, including running large-scale SaaS applications for customers on its and public cloud infrastructure; 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 Stock Price History

RXT Stock News Headlines

Rackspace Technology, Inc. (RXT)
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RXT Apr 2024 3.000 call
Recap: Rackspace Tech Q4 Earnings
See More Headlines
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Company Calendar

Last Earnings
3/12/2024
Today
4/23/2024
Next Earnings (Estimated)
5/14/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Computer programming, data processing, & other computer related
Sub-Industry
N/A
Current Symbol
NASDAQ:RXT
Fax
N/A
Employees
5,800
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$2.31
High Stock Price Target
$4.15
Low Stock Price Target
$1.00
Potential Upside/Downside
+40.1%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
8 Analysts

Profitability

Net Income
$-837,800,000.00
Pretax Margin
-28.89%

Debt

Sales & Book Value

Annual Sales
$2.96 billion
Cash Flow
$5.32 per share
Book Value
($0.71) per share

Miscellaneous

Free Float
217,557,000
Market Cap
$362.60 million
Optionable
Optionable
Beta
1.94
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Key Executives

  • Mr. Amar  MaletiraMr. Amar Maletira (Age 55)
    President, CEO & Director
    Comp: $1.62M
  • Mr. Srinivas Koushik (Age 60)
    Executive VP and President of Technology & Sustainability
    Comp: $1.48M
  • Mr. Dharmendra Kumar Sinha (Age 61)
    Executive VP & President of Public Cloud Business Unit
    Comp: $604.15k
  • Mr. Mark A. Marino (Age 47)
    Chief Financial Officer
  • Sagar Hebbar
    Head of Investor Relations
  • Mr. Michael Bross
    Chief Legal Officer, Senior VP & Corporate Secretary
  • Ms. Kathleen Schneider
    Chief Marketing Officer
  • Ms. Kellie Teal-Guess
    Chief Human Resources Officer
  • Mr. Brian J. Lillie (Age 60)
    Executive VP & President of Private Cloud Business Unit
  • Mr. Joseph J. Crivelli
    Vice President of Investor Relations

RXT Stock Analysis - Frequently Asked Questions

Should I buy or sell Rackspace Technology stock right now?

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last year. There are currently 2 sell ratings, 4 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street 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 target for 2024?

8 equities research analysts have issued 1 year target prices for Rackspace Technology's stock. Their RXT share price targets range from $1.00 to $4.15. On average, they anticipate the company's share price to reach $2.31 in the next year. This suggests a possible upside of 40.1% 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 2024?

Rackspace Technology's stock was trading at $2.00 on January 1st, 2024. Since then, RXT shares have decreased by 17.5% and is now trading at $1.65.
View the best growth stocks for 2024 here
.

When is Rackspace Technology's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
View our RXT earnings forecast
.

How were Rackspace Technology's earnings last quarter?

Rackspace Technology, Inc. (NASDAQ:RXT) released its quarterly earnings results on Tuesday, March, 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $720 million for the quarter, compared to analysts' expectations of $714.74 million. Rackspace Technology had a negative trailing twelve-month return on equity of 10.18% and a negative net margin of 28.33%. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS.

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

Rackspace Technology issued an update on its first quarter earnings guidance on Wednesday, April, 3rd. The company provided earnings per share guidance of ($0.14)-($0.12) for the period, compared to the consensus EPS estimate of ($0.13). The company issued revenue guidance of $680-$690 million, compared to the consensus revenue estimate of $684.21 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?

Rackspace Technology (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.

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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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This page (NASDAQ:RXT) was last updated on 4/23/2024 by MarketBeat.com Staff

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