Rackspace Technology - RXT Stock Forecast, Price & News

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Rackspace Technology in the last year. 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.

11 brokers have issued twelve-month price objectives for Rackspace Technology's stock. Their RXT share price forecasts range from $4.00 to $18.00. On average, they anticipate the company's share price to reach $7.60 in the next twelve months. This suggests a possible upside of 63.4% from the stock's current price.
View analysts price targets for RXT or view top-rated stocks among Wall Street analysts.

Rackspace Technology's stock was trading at $13.47 at the beginning of 2022. Since then, RXT shares have decreased by 65.5% and is now trading at $4.65.
View the best growth stocks for 2022 here.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 28th 2023.
View our RXT earnings forecast.

Rackspace Technology, Inc. (NASDAQ:RXT) issued its quarterly earnings results on Monday, November, 15th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business earned $763 million during the quarter, compared to analyst estimates of $756.03 million. Rackspace Technology had a negative net margin of 21.64% and a positive trailing twelve-month return on equity of 12.90%. The business's quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share.

Rackspace Technology updated its fourth quarter earnings guidance on Wednesday, November, 9th. The company provided 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 $772-$782 million, compared to the consensus revenue estimate of $781.17 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 $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.

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

Rackspace Technology's stock is owned by many different retail and institutional investors. Top institutional shareholders include First Trust Advisors LP (14.11%), Mackenzie Financial Corp (3.38%), Vanguard Group Inc. (3.20%), BlackRock Inc. (2.00%), Rice Hall James & Associates LLC (0.88%) and State Street Corp (0.52%). Insiders that own company stock include Amar Maletira, Dhiren R Fonseca, Holly B Windham, Kevin M Jones, Michael Karanikolas, Subroto Mukerji, Thomas Wolf, Timothy Campos and Tolga Tarhan.
View institutional ownership trends.

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.

One share of RXT stock can currently be purchased for approximately $4.65.

Rackspace Technology (NASDAQ:RXT) has a market capitalization of $981.66 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.

The company employs 6,600 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.