Rackspace Technology (NASDAQ:RXT) Announces Quarterly Earnings Results

Rackspace Technology (NASDAQ:RXT) posted its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02, Zacks reports. The company had revenue of $685.60 million for the quarter, compared to analyst estimates of $674.85 million. Rackspace Technology updated its Q1 2025 guidance to -0.090–0.070 EPS.

Rackspace Technology Trading Up 0.7 %

Shares of NASDAQ RXT opened at $2.90 on Friday. The business has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $2.49. The firm has a market capitalization of $659.95 million, a price-to-earnings ratio of -0.75 and a beta of 2.04. Rackspace Technology has a one year low of $1.45 and a one year high of $3.41.

Insider Activity at Rackspace Technology

In other news, Director Anthony C. Roberts purchased 19,455 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $50,583.00. Following the completion of the acquisition, the director now directly owns 161,930 shares in the company, valued at approximately $421,018. The trade was a 13.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark A. Marino sold 14,458 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $2.34, for a total value of $33,831.72. Following the completion of the transaction, the chief financial officer now owns 1,915,356 shares in the company, valued at approximately $4,481,933.04. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,322 shares of company stock worth $542,829. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Barclays boosted their price target on Rackspace Technology from $1.00 to $2.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.47.

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.