Rackspace Technology (NASDAQ:RXT – Get Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.15-$0.17 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $744.00 million-$752.00 million, compared to the consensus revenue estimate of $800.71 million.
NASDAQ:RXT opened at $8.66 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.75. Rackspace Technology has a 1-year low of $7.28 and a 1-year high of $21.50. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -9.41, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The stock has a fifty day simple moving average of $10.25 and a 200 day simple moving average of $12.02.
Rackspace Technology (NASDAQ:RXT – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Rackspace Technology had a positive return on equity of 14.99% and a negative net margin of 6.30%. The firm had revenue of $775.50 million during the quarter, compared to analyst estimates of $774.45 million. During the same period last year, the company posted $0.23 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Rackspace Technology will post 0.75 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Rackspace Technology by 693.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,347 shares of the company’s stock valued at $37,000 after acquiring an additional 2,925 shares in the last quarter. Quantbot Technologies LP bought a new position in Rackspace Technology in the 1st quarter worth approximately $79,000. Vident Investment Advisory LLC increased its position in Rackspace Technology by 16.4% in the 1st quarter. Vident Investment Advisory LLC now owns 24,676 shares of the company’s stock worth $275,000 after buying an additional 3,475 shares during the period. MetLife Investment Management LLC increased its position in Rackspace Technology by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 29,831 shares of the company’s stock worth $333,000 after buying an additional 10,494 shares during the period. Finally, Credit Suisse AG increased its position in Rackspace Technology by 6.2% in the 4th quarter. Credit Suisse AG now owns 28,653 shares of the company’s stock worth $386,000 after buying an additional 1,674 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.
Rackspace Technology Company Profile (Get Rating)
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's 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.
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