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NASDAQ:RXT

Rackspace Technology (RXT) Stock Price, News & Analysis

Rackspace Technology logo
$2.38
-0.17 (-6.65%)
(As of 10/31/2024 ET)

About Rackspace Technology Stock (NASDAQ:RXT)

Key Stats

Today's Range
$2.37
$2.56
50-Day Range
$2.11
$2.81
52-Week Range
$1.17
$3.18
Volume
672,058 shs
Average Volume
1.09 million shs
Market Capitalization
$539.09 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$2.34
Consensus Rating
Hold

Company Overview

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.

Rackspace Technology Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
17th Percentile Overall Score

RXT MarketRank™: 

Rackspace Technology scored higher than 17% of companies evaluated by MarketBeat, and ranked 299th out of 338 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Rackspace Technology has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 4 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Rackspace 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 Growth

    Earnings 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 Market

    The P/E ratio of Rackspace Technology is -0.64, 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. Sector

    The P/E ratio of Rackspace Technology is -0.64, 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.
  • Percentage of Shares Shorted

    9.13% of the float of Rackspace Technology has been sold short.
  • Short Interest Ratio / Days to Cover

    Rackspace Technology has a short interest ratio ("days to cover") of 8.2.
  • Change versus previous month

    Short interest in Rackspace Technology has recently decreased by 6.56%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Rackspace Technology does not currently pay a dividend.

  • Dividend Growth

    Rackspace Technology does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    9.13% of the float of Rackspace Technology has been sold short.
  • Short Interest Ratio / Days to Cover

    Rackspace Technology has a short interest ratio ("days to cover") of 8.2.
  • Change versus previous month

    Short interest in Rackspace Technology has recently decreased by 6.56%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Rackspace Technology has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.59 average news sentiment score of Business Services companies.
  • News Coverage This Week

    MarketBeat has tracked 5 news articles for Rackspace Technology this week, compared to 3 articles on an average week.
  • MarketBeat Follows

    Only 2 people have added Rackspace Technology to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In 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 $542,103.00 in company stock.

  • Percentage Held by Insiders

    Only 2.00% of the stock of Rackspace Technology is held by insiders.

  • Percentage Held by Institutions

    82.48% 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.
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RXT Stock News Headlines

Rackspace Technology signs multi-year collaboration agreement with AWS
The real reason Elon is fully endorsing Trump
Elon Musk is one of mankind’s greatest innovators. But for all his visionary prowess and contributions to humanity, there is a war being waged on Elon Musk. This war has nothing to do with X, Elon’s stance on immigration or his support for Donald Trump.
Rackspace Technology Achieves AWS Small and Medium Business Competency
Barclays Sticks to Their Sell Rating for Rackspace Technology (RXT)
See More Headlines

RXT Stock Analysis - Frequently Asked Questions

Rackspace Technology's stock was trading at $2.00 on January 1st, 2024. Since then, RXT shares have increased by 19.3% and is now trading at $2.3850.
View the best growth stocks for 2024 here
.

Rackspace Technology, Inc. (NASDAQ:RXT) released its earnings results on Thursday, August, 8th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. The firm had revenue of $684.90 million for the quarter, compared to the consensus estimate of $669.10 million.

Rackspace Technology (RXT) raised $754 million in an IPO 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 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.

Top institutional investors of Rackspace Technology include SG Americas Securities LLC (0.02%), US Bancorp DE (0.01%) and Creative Planning (0.01%). 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
.

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.

Based on aggregate information from My MarketBeat watchlists, some other companies that Rackspace Technology investors own include Block (SQ), NVIDIA (NVDA), Meta Platforms (META), CrowdStrike (CRWD), Advanced Micro Devices (AMD), Palantir Technologies (PLTR) and Digital Turbine (APPS).

Company Calendar

Last Earnings
8/08/2024
Today
10/31/2024
Next Earnings (Confirmed)
11/12/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

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

Price Target and Rating

Average Stock Price Target
$2.34
High Stock Price Target
$3.00
Low Stock Price Target
$1.25
Potential Upside/Downside
-1.6%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
6 Analysts

Profitability

Net Income
$-837,800,000.00
Pretax Margin
-30.26%

Debt

Sales & Book Value

Annual Sales
$2.83 billion
Cash Flow
$4.96 per share
Book Value
($0.71) per share

Miscellaneous

Free Float
221,512,000
Market Cap
$537.96 million
Optionable
Optionable
Beta
1.98
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This page (NASDAQ:RXT) was last updated on 10/31/2024 by MarketBeat.com Staff
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