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

Rackspace Technology (NASDAQ:RXT) released its quarterly 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

RXT traded down $0.02 during trading hours on Thursday, reaching $2.88. The company’s stock had a trading volume of 832,203 shares, compared to its average volume of 812,482. Rackspace Technology has a 52 week low of $1.45 and a 52 week high of $3.41. The company’s 50-day moving average is $2.50 and its 200-day moving average is $2.48. The firm has a market cap of $655.40 million, a PE ratio of -0.83 and a beta of 2.04.

Insider Activity at Rackspace Technology

In other Rackspace Technology news, EVP Dharmendra Kumar Sinha sold 23,357 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $2.54, for a total transaction of $59,326.78. Following the transaction, the executive vice president now owns 2,311,309 shares in the company, valued at $5,870,724.86. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Srini Koushik sold 19,470 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $2.67, for a total value of $51,984.90. Following the transaction, the chief technology officer now owns 1,026,279 shares in the company, valued at $2,740,164.93. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,322 shares of company stock worth $542,829. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays upped their price target on Rackspace Technology from $1.00 to $2.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. One 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’s stock. According to data from MarketBeat.com, Rackspace Technology presently has an average 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.