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NASDAQ:RXT

Rackspace Technology (RXT) Stock Forecast, Price & News

$2.30
-0.05 (-2.13%)
(As of 11:28 AM ET)
Compare
Today's Range
$2.25
▼
$2.34
50-Day Range
$1.48
▼
$2.65
52-Week Range
$1.05
▼
$6.07
Volume
276,412 shs
Average Volume
1.87 million shs
Market Capitalization
$496.55 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$3.14
ProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media

Rackspace Technology MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
33.8% Upside
$3.14 Price Target
Short Interest
Healthy
10.55% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.69mentions of Rackspace Technology in the last 14 days
Based on 3 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.

2.72 out of 5 stars

Business Services Sector

62nd out of 320 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

8th out of 57 stocks

See Top Rated MarketRank™ Stocks Here

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

October 1, 2023 | americanbankingnews.com
Rackspace Technology (NASDAQ:RXT) Trading 4.8% Higher
September 30, 2023 | americanbankingnews.com
Rackspace Technology, Inc. (NASDAQ:RXT) Receives Consensus Rating of "Hold" from Analysts
October 2, 2023 | Edge On The Street (Ad)
Gold Could Be Heading for Record Highs - But How to Play It?
According to FX Empire, the gold forecast is now bullish, with support for a $3,000 target in 2024. The big question is how to play it. Some investors are discovering a unique gold investment alternative that sidesteps the major issues with gold mining stocks or physical gold.
September 19, 2023 | in.investing.com
Rackspace Technology raised at Raymond James as turnaround traction gathers pace
September 19, 2023 | msn.com
Stocks making the biggest moves midday: Instacart, Disney, Planet Fitness, Rackspace and more
September 19, 2023 | msn.com
Raymond James Upgrades Rackspace Technology (RXT)
September 19, 2023 | msn.com
Rackspace surges ~40% after Raymond James upgrades on turnaround efforts
September 19, 2023 | finance.yahoo.com
Artificial Intelligence (AI) Initiatives Driving Increased Focus on Cybersecurity, According to New Rackspace Technology Survey, in Association with Microsoft
October 2, 2023 | Edge On The Street (Ad)
Gold Could Be Heading for Record Highs - But How to Play It?
According to FX Empire, the gold forecast is now bullish, with support for a $3,000 target in 2024. The big question is how to play it. Some investors are discovering a unique gold investment alternative that sidesteps the major issues with gold mining stocks or physical gold.
September 19, 2023 | msn.com
Dell a buy on AI and bolstered demand: 5 big analyst picks
September 19, 2023 | finance.yahoo.com
Dell a buy on AI and bolstered demand: 5 big analyst picks
September 14, 2023 | msn.com
Rackspace Technology: Attractive TAM But Challenges Persist In The Near Term
September 13, 2023 | finance.yahoo.com
Rackspace Technology Taps Palo Alto Networks for Comprehensive Cybersecurity Solutions
September 12, 2023 | finance.yahoo.com
Rackspace Technology Launches Intelligent Co-worker for the Enterprise to Make Generative Artificial Intelligence Accessible Worldwide
September 5, 2023 | benzinga.com
Rackspace Technology is Named Inspiring Workplaces Winner in EMEA, North America, and Australasia – All Three of the Program's Award Regions
September 5, 2023 | finance.yahoo.com
Rackspace Technology is Named Inspiring Workplaces Winner in EMEA, North America, and Australasia – All Three of the Program’s Award Regions
September 1, 2023 | finance.yahoo.com
New Worth and Associates VP talks Rackspace as a tenant, plans to scale
August 31, 2023 | msn.com
Rackspace Technology (RXT) Price Target Increased by 30.00% to 2.84
August 29, 2023 | finance.yahoo.com
Rackspace Technology Launches FAIR AI Diagnostic, Allowing Organizations to Baseline AI Readiness and Receive Tailored Recommendations on Next Steps in Minutes
August 28, 2023 | finance.yahoo.com
Rackspace Technology Participates in Google Cloud Next to Showcase the Company’s Google Cloud Offerings and Partnerships
August 22, 2023 | finanznachrichten.de
Rackspace Technology, Inc.: Rackspace Technology Announces New Professional Services Collaboration with Google Cloud to Accelerate VM Migrations
August 22, 2023 | finance.yahoo.com
Rackspace Technology Announces New Professional Services Collaboration with Google Cloud to Accelerate VM Migrations
August 16, 2023 | finance.yahoo.com
Rackspace Technology Participates in VMware Explore to Showcase the Company’s Private Cloud Portfolio
August 15, 2023 | finance.yahoo.com
Rackspace Technology Ranked as a Leader in Two ISG Provider Lens™ Google Cloud Partner Ecosystem U.S. Reports for Second Year in a Row
August 9, 2023 | msn.com
BMO Capital Maintains Rackspace Technology (RXT) Market Perform Recommendation
August 9, 2023 | seekingalpha.com
Rackspace Technology, Inc. 2023 Q2 - Results - Earnings Call Presentation
August 8, 2023 | finanznachrichten.de
Rackspace Technology, Inc.: Rackspace Technology Reports Second Quarter 2023 Results
See More Headlines
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RXT Company Calendar

Last Earnings
8/08/2023
Today
10/02/2023
Next Earnings (Estimated)
11/08/2023
Fiscal Year End
12/31/2023
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NASDAQ
Industry
Computer programming, data processing, & other computer related
Sub-Industry
N/A
Sector
Business Services
Current Symbol
NASDAQ:RXT
CUSIP
N/A
CIK
1810019
Web
www.rackspace.com
Phone
210-312-4000
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
+33.8%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
7 Analysts

Profitability

EPS (Most Recent Fiscal Year)
($6.44)
Trailing P/E Ratio
N/A
Forward P/E Ratio
N/A
P/E Growth
N/A
Net Income
$-804,800,000.00
Net Margins
-44.32%
Pretax Margin
-47.44%
Return on Equity
4.08%
Return on Assets
0.30%

Debt

Debt-to-Equity Ratio
111.44
Current Ratio
1.18
Quick Ratio
1.18

Sales & Book Value

Annual Sales
$3.12 billion
Price / Sales
0.16
Cash Flow
$5.22 per share
Price / Cash Flow
0.45
Book Value
$2.98 per share
Price / Book
0.79

Miscellaneous

Outstanding Shares
215,890,000
Free Float
213,732,000
Market Cap
$507.34 million
Optionable
Optionable
Beta
1.65
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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 and Pres of Technology & Sustainability
    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

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions













RXT Stock - Frequently Asked Questions

Should I buy or sell Rackspace Technology stock right now?

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.
View RXT analyst ratings or view top-rated stocks.

What is Rackspace Technology's stock price forecast for 2023?

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.
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 decreased by 20.3% and is now trading at $2.35.
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) 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.

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 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.

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 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.

What is Rackspace Technology's stock symbol?

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

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 $2.35.

How much money does Rackspace Technology make?

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.

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 10/2/2023 by MarketBeat.com Staff

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