Rackspace Technology (NASDAQ:RXT – Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. Rackspace Technology has set its Q1 guidance at ($0.14)-($0.12) EPS and its Q1 2024 guidance at -0.140–0.120 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.
Rackspace Technology (NASDAQ:RXT – Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $714.74 million. Rackspace Technology had a negative return on equity of 10.18% and a negative net margin of 28.33%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, analysts expect Rackspace Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Rackspace Technology Price Performance
RXT opened at $1.81 on Wednesday. The stock’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $1.67. The stock has a market cap of $404.77 million, a P/E ratio of -0.46 and a beta of 1.83. Rackspace Technology has a 1-year low of $1.05 and a 1-year high of $3.10.
Insider Buying and Selling
Analyst Ratings Changes
A number of equities research analysts have commented on RXT shares. Evercore ISI lowered their target price on Rackspace Technology from $3.00 to $2.00 and set an “in-line” rating on the stock in a report on Wednesday, March 13th. BMO Capital Markets increased their target price on Rackspace Technology from $1.50 to $2.50 and gave the company a “market perform” rating in a report on Wednesday, March 13th. Raymond James lowered their target price on Rackspace Technology from $3.50 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of Rackspace Technology in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.31.
View Our Latest Stock Analysis on RXT
Rackspace Technology Company Profile
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.
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