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

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

Rackspace Technology Trading Up 1.2 %

NASDAQ RXT traded up $0.04 on Friday, hitting $2.92. 1,239,951 shares of the company’s stock were exchanged, compared to its average volume of 819,878. The stock has a market cap of $663.37 million, a price-to-earnings ratio of -0.84 and a beta of 2.04. The stock has a 50-day moving average of $2.50 and a 200-day moving average of $2.48. Rackspace Technology has a 52 week low of $1.45 and a 52 week high of $3.41.

Insider Activity

In other Rackspace Technology news, CEO Amar Maletira sold 55,461 shares of Rackspace Technology stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $2.54, for a total value of $140,870.94. Following the completion of the sale, the chief executive officer now directly owns 4,928,523 shares in the company, valued at approximately $12,518,448.42. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark A. Marino sold 14,458 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $2.34, for a total transaction of $33,831.72. Following the transaction, the chief financial officer now directly owns 1,915,356 shares in the company, valued at $4,481,933.04. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,322 shares of company stock valued at $542,829. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their target price on shares of Rackspace Technology from $1.00 to $2.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. 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 data from MarketBeat.com, Rackspace Technology currently has an average rating of “Hold” and a consensus target price of $2.47.

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.