Brokerages Set Rackspace Technology, Inc. (NASDAQ:RXT) Price Target at $1.58

Shares of Rackspace Technology, Inc. (NASDAQ:RXT) have been given a consensus recommendation of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $1.5750.

RXT has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Rackspace Technology from $1.75 to $1.40 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Wall Street Zen upgraded Rackspace Technology from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rackspace Technology in a report on Wednesday, October 8th.

Rackspace Technology Stock Performance

Shares of RXT opened at $1.64 on Friday. The stock has a market capitalization of $392.55 million, a price-to-earnings ratio of -1.01 and a beta of 2.09. Rackspace Technology has a 52 week low of $1.00 and a 52 week high of $3.41. The stock has a fifty day moving average of $1.42 and a 200-day moving average of $1.33.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $666.30 million during the quarter, compared to analyst estimates of $658.86 million. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. Rackspace Technology has set its Q3 2025 guidance at -0.060–0.040 EPS.

Insider Transactions at Rackspace Technology

In other Rackspace Technology news, Director Anthony Scott sold 40,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $1.43, for a total transaction of $57,200.00. Following the completion of the sale, the director directly owned 191,045 shares in the company, valued at approximately $273,194.35. This trade represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amar Maletira sold 1,780,619 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $1.35, for a total value of $2,403,835.65. Following the sale, the chief executive officer owned 4,608,619 shares of the company’s stock, valued at approximately $6,221,635.65. The trade was a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Rackspace Technology

A number of large investors have recently bought and sold shares of RXT. Cerity Partners LLC acquired a new stake in Rackspace Technology during the 1st quarter worth about $26,000. Quadrature Capital Ltd bought a new position in shares of Rackspace Technology during the 2nd quarter worth about $26,000. Creative Planning boosted its position in shares of Rackspace Technology by 114.2% during the 2nd quarter. Creative Planning now owns 25,715 shares of the company’s stock worth $33,000 after purchasing an additional 13,708 shares in the last quarter. Jump Financial LLC bought a new position in shares of Rackspace Technology during the 1st quarter worth about $40,000. Finally, Engineers Gate Manager LP boosted its position in shares of Rackspace Technology by 47.1% during the 2nd quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock worth $45,000 after purchasing an additional 11,141 shares in the last quarter. 82.48% of the stock is currently owned by institutional investors and hedge funds.

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.