Should I buy or sell Rackspace Technology stock right now?

8 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, 4 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 target for 2024?

8 equities research analysts have issued 12-month price targets for Rackspace Technology's shares. Their RXT share price targets range from $1.00 to $4.15. On average, they anticipate the company's stock price to reach $2.31 in the next year. This suggests a possible upside of 52.0% 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 2024?

Rackspace Technology's stock was trading at $2.00 at the beginning of the year. Since then, RXT shares have decreased by 24.0% and is now trading at $1.52. View the best growth stocks for 2024 here .

When is Rackspace Technology's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. View our RXT earnings forecast .

How were Rackspace Technology's earnings last quarter?

Rackspace Technology, Inc. (NASDAQ:RXT) posted its earnings results on Tuesday, March, 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business earned $720 million during the quarter, compared to the consensus estimate of $714.74 million. Rackspace Technology had a negative net margin of 28.33% and a negative trailing twelve-month return on equity of 10.18%. The company's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS.

What guidance has Rackspace Technology issued on next quarter's earnings?

Rackspace Technology issued an update on its first quarter earnings guidance on Wednesday, April, 3rd. The company provided earnings per share (EPS) guidance of ($0.14)-($0.12) for the period, compared to the consensus estimate of ($0.13). The company issued revenue guidance of $680-$690 million, compared to the consensus revenue estimate of $684.21 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?

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

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 .

NASDAQ:RXT

Rackspace Technology (RXT) Stock Price, News & Analysis

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$1.52

-0.06 (-3.80%)

(As of 04/17/2024 ET)

Compare

Today's Range: $1.51
▼
$1.67
50-Day Range: $1.48
▼
$2.21
52-Week Range: $1.05
▼
$3.10

Volume: 1.00 million shs
Average Volume: 960,350 shs
Market Capitalization: $334.04 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $2.31

Get Rackspace Technology alerts:

Rackspace Technology MarketRank™ Stock Analysis

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 52.0% Upside
$2.31 Price Target
Short Interest: Bearish
12.97% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.67
Based on 2 Articles This Week
Insider Trading: Selling Shares
$318,164 Sold Last Quarter
Proj. Earnings Growth: Growing
From ($0.38) to $0.05 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.70 out of 5 stars

Business Services Sector

218th out of 297 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

45th out of 59 stocks

3.0

Analyst's Opinion

Consensus Rating
Rackspace Technology has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 2 buy ratings, 4 hold ratings, and 2 sell ratings.
Amount of Analyst Coverage
Rackspace Technology has only been the subject of 4 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
12.97% 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 4.5.
Change versus previous month
Short interest in Rackspace Technology has recently decreased by 0.31%, indicating that investor sentiment is improving.

0.0

Dividend Strength

Dividend Yield
Rackspace Technology does not currently pay a dividend.
Dividend Growth
Rackspace Technology does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for RXT.

2.6

News and Social Media Coverage

News Sentiment
Rackspace Technology has a news sentiment score of 0.67. 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 higher news sentiment than the 0.43 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Rackspace Technology this week, compared to 3 articles on an average week.
Search Interest
Only 1 people have searched for RXT on MarketBeat in the last 30 days. This is a decrease of -80% compared to the previous 30 days.
MarketBeat Follows
3 people have added Rackspace Technology to their MarketBeat watchlist in the last 30 days. This is an increase of 50% compared to the previous 30 days.

2.5

Company Ownership

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 $318,164.00 in company stock.
Percentage Held by Insiders
Only 1.00% 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.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Rackspace Technology are expected to grow in the coming year, from ($0.38) to $0.05 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Rackspace Technology is -0.39, 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 -0.39, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

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About Rackspace Technology Stock (NASDAQ:RXT)

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.

RXT Stock Price History

30 days | 90 days | 365 days | Advanced Chart

RXT Stock News Headlines

April 12, 2024 | globenewswire.com

Rackspace Technology Announces Final Results of the Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

April 12, 2024 | americanbankingnews.com

Rackspace Technology, Inc. (NASDAQ:RXT) Given Average Recommendation of "Hold" by Brokerages

April 18, 2024 | Paradigm Press (Ad)

AI “wealth window” is closing soon!

Today, I’m making my boldest prediction ever. Next-generation AI technology will create the first $100 TRILLION industry.

April 7, 2024 | globenewswire.com

GLP Works with Foundry for AI by Rackspace (FAIR) Experts to Integrate Microsoft Azure OpenAI Service to Drive Innovative Asset Management Strategies

April 2, 2024 | globenewswire.com

Rackspace Technology Participates in Google Cloud Next as a Signature Sponsor to Showcase the Company's Google Cloud Offerings and Partnerships

March 29, 2024 | finance.yahoo.com

Rackspace Technology Announces Increase to Late Exchange Consideration for Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

March 29, 2024 | globenewswire.com

Rackspace Technology Announces Increase to Late Exchange Consideration for Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

March 28, 2024 | globenewswire.com

Rackspace Technology Announces Early Tender Results of the Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

April 18, 2024 | Paradigm Press (Ad)

AI “wealth window” is closing soon!

Today, I’m making my boldest prediction ever. Next-generation AI technology will create the first $100 TRILLION industry.

March 27, 2024 | globenewswire.com

Rackspace Technology Launches Rackspace UK Sovereign Services for Secure, Cost-Effective Workloads in the UK Public Sector and Regulated Services

March 26, 2024 | globenewswire.com

AI Transitioning from Ideation to Industrialization for Critical Business Operations, According to New Rackspace Technology FAIR 2024 AI Research

March 20, 2024 | globenewswire.com

Rackspace Technology Migrates IFCO to Microsoft Azure for Cost Optimisation and Enhanced Flexibility to Support its Growth Agenda

March 19, 2024 | globenewswire.com

Rackspace Technology Introduces Rackspace SPOT, Cloud Infrastructure Auctioned in a Real-time Open Market and Delivered as Turnkey, Fully Managed Kubernetes Clusters

March 16, 2024 | finance.yahoo.com

RXT Apr 2024 3.000 call

March 14, 2024 | finanznachrichten.de

Rackspace Technology, Inc.: Rackspace Technology Announces Launch of Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

March 14, 2024 | globenewswire.com

Rackspace Technology Announces Launch of Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

March 14, 2024 | marketwatch.com

Rackspace Technology Shares Fall 13% on Private Debt Exchange

March 14, 2024 | finance.yahoo.com

Rackspace Technology Full Year 2023 Earnings: EPS Beats Expectations

March 14, 2024 | msn.com

Rackspace revenue down after cloud computing restructuring; CEO expects 'slow start' in 2024

March 13, 2024 | benzinga.com

These Analysts Revise Their Forecasts On Rackspace Technology After Q4 Results

March 13, 2024 | finance.yahoo.com

Rackspace Technology, Inc. (NASDAQ:RXT) Q4 2023 Earnings Call Transcript

March 13, 2024 | msn.com

Rackspace Technology Non-GAAP EPS of -$0.03 beats by $0.01, revenue of $719.7M beats by $4.96M

March 13, 2024 | finance.yahoo.com

Rackspace Technology Inc (RXT) Reports Decline in Q4 and Full Year 2023 Revenue

March 12, 2024 | finanznachrichten.de

Rackspace Technology, Inc.: Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment

March 12, 2024 | benzinga.com

Recap: Rackspace Tech Q4 Earnings

March 12, 2024 | finanznachrichten.de

Rackspace Technology, Inc.: Rackspace Technology Reports Fourth Quarter and Full Year 2023 Results

March 12, 2024 | investing.com

After-hours movers: Coinbase and Rackspace decline, and more

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Company Calendar

Last Earnings: 3/12/2024
Today: 4/18/2024
Next Earnings (Estimated): 5/14/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Business Services
Industry: Computer programming, data processing, & other computer related
Sub-Industry: N/A
Current Symbol: NASDAQ:RXT
CUSIP: N/A
CIK: 1810019
Web: www.rackspace.com
Phone: 210-312-4000
Fax: N/A
Employees: 5,800
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $2.31
High Stock Price Target: $4.15
Low Stock Price Target: $1.00
Potential Upside/Downside: +52.0%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 8 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($3.92)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-837,800,000.00
Net Margins: -28.33%
Pretax Margin: -28.89%
Return on Equity: -10.18%
Return on Assets: -0.74%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 0.92
Quick Ratio: 0.92

Sales & Book Value

Annual Sales: $2.96 billion
Price / Sales: 0.11
Cash Flow: $4.90 per share
Price / Cash Flow: 0.31
Book Value: ($0.71) per share
Price / Book: -2.14

Miscellaneous

Outstanding Shares: 219,760,000
Free Float: 217,557,000
Market Cap: $334.04 million
Optionable: Optionable
Beta: 1.94

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Key Executives

Mr. Amar Maletira (Age 55)
President, CEO & Director
Comp: $1.62M
Mr. Srinivas Koushik (Age 60)
Executive VP and President of Technology & Sustainability
Comp: $1.48M
Mr. Dharmendra Kumar Sinha (Age 61)
Executive VP & President of Public Cloud Business Unit
Comp: $604.15k
Mr. Mark A. Marino (Age 47)
Chief Financial Officer
Sagar Hebbar
Head of Investor Relations
Mr. Michael Bross
Chief Legal Officer, Senior VP & Corporate Secretary
Ms. Kathleen Schneider
Chief Marketing Officer
Ms. Kellie Teal-Guess
Chief Human Resources Officer
Mr. Brian J. Lillie (Age 60)
Executive VP & President of Private Cloud Business Unit
Mr. Joseph J. Crivelli
Vice President of Investor Relations

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

RXT Stock Analysis - Frequently Asked Questions

Should I buy or sell Rackspace Technology stock right now?: 8 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, 4 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 target for 2024?: 8 equities research analysts have issued 12-month price targets for Rackspace Technology's shares. Their RXT share price targets range from $1.00 to $4.15. On average, they anticipate the company's stock price to reach $2.31 in the next year. This suggests a possible upside of 52.0% 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 2024?: Rackspace Technology's stock was trading at $2.00 at the beginning of the year. Since then, RXT shares have decreased by 24.0% and is now trading at $1.52.
View the best growth stocks for 2024 here.
When is Rackspace Technology's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
View our RXT earnings forecast.
How were Rackspace Technology's earnings last quarter?: Rackspace Technology, Inc. (NASDAQ:RXT) posted its earnings results on Tuesday, March, 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business earned $720 million during the quarter, compared to the consensus estimate of $714.74 million. Rackspace Technology had a negative net margin of 28.33% and a negative trailing twelve-month return on equity of 10.18%. The company's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS.

What guidance has Rackspace Technology issued on next quarter's earnings?: Rackspace Technology issued an update on its first quarter earnings guidance on Wednesday, April, 3rd. The company provided earnings per share (EPS) guidance of ($0.14)-($0.12) for the period, compared to the consensus estimate of ($0.13). The company issued revenue guidance of $680-$690 million, compared to the consensus revenue estimate of $684.21 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?: Rackspace Technology (RXT) raised $754 million in an initial public offering (IPO) 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.
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.

This page (NASDAQ:RXT) was last updated on 4/18/2024 by MarketBeat.com Staff

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Rackspace Technology (RXT) Stock Price, News & Analysis

Rackspace Technology MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Rackspace Technology Stock (NASDAQ:RXT)

RXT Stock Price History

RXT Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

RXT Stock Analysis - Frequently Asked Questions

Overall MarketRank^™