Rackspace Technology (RXT) to Release Earnings on Tuesday

Rackspace Technology (NASDAQ:RXT) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, November 12th. Analysts expect Rackspace Technology to post earnings of ($0.08) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $684.90 million for the quarter, compared to analysts’ expectations of $669.10 million. On average, analysts expect Rackspace Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Rackspace Technology Stock Performance

NASDAQ:RXT opened at $2.76 on Friday. The stock has a market capitalization of $623.84 million, a P/E ratio of -0.74 and a beta of 1.97. The company has a 50 day moving average price of $2.50 and a 200 day moving average price of $2.35. Rackspace Technology has a fifty-two week low of $1.22 and a fifty-two week high of $3.18.

Insider Buying and Selling

In related news, CEO Amar Maletira sold 84,823 shares of Rackspace Technology stock in a transaction on Monday, September 30th. The shares were sold at an average price of $2.42, for a total transaction of $205,271.66. Following the sale, the chief executive officer now directly owns 5,158,399 shares in the company, valued at $12,483,325.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 227,321 shares of company stock worth $542,103 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, UBS Group increased their target price on shares of Rackspace Technology from $2.10 to $2.30 and gave the stock a “neutral” rating in a report on Friday, August 16th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.34.

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.