NASDAQ:RXT Rackspace Technology (RXT) Stock Price, News & Analysis $2.37 -0.05 (-2.07%) (As of 09/20/2024 ET) Add Compare Share Share Stock Analysis Stock AnalysisAnalyst ForecastsChartCompetitorsEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestTrends Get Rackspace Technology alerts: Email Address About Rackspace Technology Stock (NASDAQ:RXT) 30 days 90 days 365 days Advanced Chart View Price History Chart DataSkip Price History Chart Get Rackspace Technology alerts:Sign Up Key Stats Today's Range$2.36▼$2.4850-Day Range$1.89▼$2.6152-Week Range$1.15▼$3.18Volume1.26 million shsAverage Volume1.19 million shsMarket Capitalization$535.69 millionP/E RatioN/ADividend YieldN/APrice Target$2.15Consensus RatingReduce Company OverviewRackspace 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.Read More… How the US Will Win the Great Lithium Race (Ad)China spent $60B+ on lithium infrastructure in the past decade. It possesses 7.9% of the world’s supply, but it processes 70-80%. Now the US is coming over the top by investing $700B+ into domestic supply with the IRA and Bi-partisan Infrastructure Bill.Join GM as an early investor in this company by October 3. Rackspace Technology Stock Analysis - MarketRank™See Top Rated MarketRank™ StocksOverall MarketRank™: 9th PercentileRackspace Technology scored higher than 9% of companies evaluated by MarketBeat, and ranked 320th out of 343 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation. Analyst's Opinion0.9 / 5Analyst RatingReduce Consensus RatingRackspace Technology has received a consensus rating of Reduce. The company's average rating score is 1.86, and is based on 1 buy rating, 4 hold ratings, and 2 sell ratings.Amount of Analyst CoverageRackspace Technology has only been the subject of 1 research reports in the past 90 days.Read more about Rackspace Technology's stock forecast and price target. Earnings and Valuation0.6 / 5Proj. Earnings GrowthGrowing Earnings GrowthEarnings for Rackspace Technology are expected to grow in the coming year, from ($0.32) to ($0.01) per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Rackspace Technology is -0.60, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Price to Earnings Ratio vs. SectorThe P/E ratio of Rackspace Technology is -0.60, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Read more about Rackspace Technology's valuation and earnings. Short Interest2.0 / 5Short Interest LevelBearish Percentage of Shares Shorted11.57% of the float of Rackspace Technology has been sold short.Short Interest Ratio / Days to CoverRackspace Technology has a short interest ratio ("days to cover") of 5.5.Change versus previous monthShort interest in Rackspace Technology has recently decreased by 2.12%, indicating that investor sentiment is improving. Dividend0.0 / 5Dividend StrengthN/A Dividend YieldRackspace Technology does not currently pay a dividend.Dividend GrowthRackspace Technology does not have a long track record of dividend growth. Sustainability and ESGN/AEnvironmental ScoreN/A Percentage of Shares Shorted11.57% of the float of Rackspace Technology has been sold short.Short Interest Ratio / Days to CoverRackspace Technology has a short interest ratio ("days to cover") of 5.5.Change versus previous monthShort interest in Rackspace Technology has recently decreased by 2.12%, indicating that investor sentiment is improving. News and Social Media0.6 / 5News SentimentN/A News Coverage This WeekMarketBeat has tracked 1 news article for Rackspace Technology this week, compared to 3 articles on an average week.Search Interest2 people have searched for RXT on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.MarketBeat FollowsOnly 1 people have added Rackspace Technology to their MarketBeat watchlist in the last 30 days. This is a decrease of -67% compared to the previous 30 days. Company Ownership2.5 / 5Insider TradingSelling Shares Insider Buying vs. Insider SellingIn the past three months, Rackspace Technology insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $493,410.00 in company stock.Percentage Held by InsidersOnly 1.00% of the stock of Rackspace Technology is held by insiders.Percentage Held by Institutions82.48% of the stock of Rackspace Technology is held by institutions. High institutional ownership can be a signal of strong market trust in this company.Read more about Rackspace Technology's insider trading history. Receive RXT Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Rackspace Technology and its competitors with MarketBeat's FREE daily newsletter. Email Address RXT Stock News HeadlinesRackspace Technology, Inc. (NASDAQ:RXT) CTO Srini Koushik Sells 7,740 SharesAugust 23, 2024 | insidertrades.comRackspace Technology Announces Offer to Drive Rapid Migrations to AWSSeptember 17 at 12:00 PM | globenewswire.comMust-Know for Trading OptionsOptions are becoming increasingly popular among investors – with demand hitting record highs for 3 years in a row! But – knowing what the options trading landscape looks like, and what you're up against is a must.September 20, 2024 | Unstoppable Prosperity (Ad)Analysts Set Rackspace Technology, Inc. (NASDAQ:RXT) PT at $2.15September 13, 2024 | americanbankingnews.comRackspace Introduces On-demand Software as a Service to Seamlessly Simulate Complex EnvironmentsAugust 26, 2024 | globenewswire.comRackspace Technology Delivers on Long-standing Commitment to OpenStack Community with Launch of OpenStack EnterpriseAugust 20, 2024 | markets.businessinsider.comRackspace Technology Helps TrueData Achieve Cloud Cost Reduction on AWSAugust 14, 2024 | globenewswire.comRackspace US, Inc.: Rackspace Technology Reports Second Quarter 2024 ResultsAugust 9, 2024 | finanznachrichten.deSee More Headlines RXT Stock Analysis - Frequently Asked Questions How have RXT shares performed this year? Rackspace Technology's stock was trading at $2.00 at the beginning of the year. Since then, RXT stock has increased by 18.5% and is now trading at $2.37. View the best growth stocks for 2024 here. How were Rackspace Technology's earnings last quarter? Rackspace Technology, Inc. (NASDAQ:RXT) posted its earnings results on Thursday, August, 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The business earned $684.90 million during the quarter, compared to the consensus estimate of $669.10 million. When did Rackspace Technology IPO? Rackspace Technology (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. Who are Rackspace Technology's major shareholders? Top institutional shareholders of Rackspace Technology include Mackenzie Financial Corp (3.11%), Renaissance Technologies LLC (0.60%), ClariVest Asset Management LLC (0.17%) and Bank of New York Mellon Corp (0.10%). Insiders that own company stock include Amar Maletira, Srini Koushik, Kellie Teal-Guess, Casey L Shilling, Mark A Marino, Anthony C Roberts and Shashank Samant. 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here. What other stocks do shareholders of Rackspace Technology own? Based on aggregate information from My MarketBeat watchlists, some other companies that Rackspace Technology investors own include Advanced Micro Devices (AMD), NVIDIA (NVDA), DocuSign (DOCU), Marvell Technology (MRVL), QUALCOMM (QCOM), Block (SQ) and CrowdStrike (CRWD). Company Calendar Last Earnings8/08/2024Today9/20/2024Next Earnings (Estimated)11/05/2024Fiscal Year End12/31/2024Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ SectorBusiness Services Industry Computer programming, data processing, & other computer related Sub-IndustryComputer Software Current SymbolNASDAQ:RXT CUSIPN/A CIK1810019 Webwww.rackspace.com Phone210-312-4000FaxN/AEmployees5,800Year FoundedN/APrice Target and Rating Average Stock Price Target$2.15 High Stock Price Target$3.00 Low Stock Price Target$1.00 Potential Upside/Downside-11.2%Consensus RatingReduce Rating Score (0-4)1.86 Research Coverage7 Analysts Profitability EPS (Most Recent Fiscal Year)($3.96) Trailing P/E RatioN/A Forward P/E RatioN/A P/E GrowthN/ANet Income$-837,800,000.00 Net Margins-28.79% Pretax Margin-30.26% Return on EquityN/A Return on Assets-1.55% Debt Debt-to-Equity RatioN/A Current Ratio0.90 Quick Ratio0.90 Sales & Book Value Annual Sales$2.96 billion Price / Sales0.18 Cash Flow$5.15 per share Price / Cash Flow0.47 Book Value($0.71) per share Price / Book-3.41Miscellaneous Outstanding Shares226,030,000Free Float221,612,000Market Cap$546.99 million OptionableOptionable Beta1.97 The Best High-Yield Dividend Stocks for 2024Looking to generate income with your stock portfolio? 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