Rackspace Technology (RXT) Set to Announce Earnings on Tuesday

Rackspace Technology (NASDAQ:RXT) is scheduled to be releasing its earnings data after the market closes on Tuesday, November 12th. Analysts expect Rackspace Technology to post earnings of ($0.08) per share for the quarter. Rackspace Technology has set its Q3 guidance at $(0.08)-(0.06) EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

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

Shares of RXT opened at $2.40 on Tuesday. The firm’s fifty day simple moving average is $2.46 and its 200-day simple moving average is $2.33. Rackspace Technology has a twelve month low of $1.22 and a twelve month high of $3.18.

Wall Street Analysts Forecast Growth

Separately, UBS Group lifted their price target on Rackspace Technology from $2.10 to $2.30 and gave the stock a “neutral” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Rackspace Technology has a consensus rating of “Hold” and a consensus target price of $2.34.

Insider Activity at Rackspace Technology

In related news, CEO Amar Maletira sold 84,823 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $2.42, for a total value of $205,271.66. Following the completion of the sale, the chief executive officer now directly owns 5,158,399 shares of the company’s stock, valued at $12,483,325.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 227,321 shares of company stock valued at $542,103 in the last ninety days. Insiders own 2.00% of the company’s stock.

About Rackspace Technology

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.