Rackspace Technology (NASDAQ:RXT) Posts Earnings Results, Beats Estimates By $0.02 EPS

Rackspace Technology (NASDAQ:RXT) issued its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports. Rackspace Technology updated its Q1 2025 guidance to -0.090–0.070 EPS.

Rackspace Technology Stock Performance

Shares of NASDAQ RXT traded down $0.02 during midday trading on Thursday, hitting $2.88. 832,203 shares of the stock traded hands, compared to its average volume of 812,482. Rackspace Technology has a one year low of $1.45 and a one year high of $3.41. The business has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.48. The company has a market cap of $655.40 million, a PE ratio of -0.83 and a beta of 2.04.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CFO Mark A. Marino sold 14,458 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $2.34, for a total value of $33,831.72. Following the transaction, the chief financial officer now owns 1,915,356 shares in the company, valued at $4,481,933.04. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Srini Koushik sold 19,470 shares of Rackspace Technology stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $2.67, for a total value of $51,984.90. Following the transaction, the chief technology officer now directly owns 1,026,279 shares in the company, valued at approximately $2,740,164.93. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,322 shares of company stock worth $542,829 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.