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NASDAQ:RXT

Rackspace Technology (RXT) Stock Price, News & Analysis

→ A.I. Pioneer Issues Urgent Warning to Americans (From TradeSmith) (Ad)
Free RXT Stock Alerts
$1.60
+0.08 (+4.93%)
(As of 12:03 PM ET)
Compare
Today's Range
$1.51
▼
$1.62
50-Day Range
$1.48
▼
$2.21
52-Week Range
$1.05
▼
$3.10
Volume
302,920 shs
Average Volume
1.35 million shs
Market Capitalization
$350.52 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$2.31
Stock AnalysisAnalyst ForecastsChartCompetitorsEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial Media

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
0.67mentions of Rackspace Technology in the last 14 days
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.

1.71 out of 5 stars

Business Services Sector

229th out of 313 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

46th out of 60 stocks

See Top Rated MarketRank™ Stocks Here
RXT stock logo

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

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 | TradeSmith (Ad)
A.I. Pioneer Issues Urgent Warning to Americans
According to one early A.I. pioneer: “You can either use this as an unfair advantage to grow your wealth, or you can let it ravage your retirement savings. There’s no middle option.”
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 | TradeSmith (Ad)
A.I. Pioneer Issues Urgent Warning to Americans
According to one early A.I. pioneer: “You can either use this as an unfair advantage to grow your wealth, or you can let it ravage your retirement savings. There’s no middle option.”
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
See More Headlines
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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 MaletiraMr. 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 analysts have issued 1-year price objectives 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 2024. Since then, RXT stock has 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) released its quarterly earnings results on Tuesday, March, 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $720 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share.

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 EPS guidance of ($0.14)-($0.12) for the period, compared to the consensus EPS 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 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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