Rackspace Technology (RXT) Expected to Announce Quarterly Earnings on Thursday

Rackspace Technology (NASDAQ:RXT) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.04) per share and revenue of $674.85 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Rackspace Technology (NASDAQ:RXT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $675.80 million for the quarter, compared to the consensus estimate of $675.14 million. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share.

Rackspace Technology Stock Down 0.3 %

Shares of NASDAQ:RXT opened at $2.88 on Thursday. The firm has a market cap of $655.40 million, a P/E ratio of -0.83 and a beta of 2.04. Rackspace Technology has a 12-month low of $1.45 and a 12-month high of $3.41. The business has a fifty day simple moving average of $2.45 and a 200 day simple moving average of $2.45.

Insider Buying and Selling at Rackspace Technology

In other news, Director Anthony C. Roberts bought 19,455 shares of the company’s stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $2.60 per share, with a total value of $50,583.00. Following the transaction, the director now directly owns 161,930 shares in the company, valued at $421,018. This represents a 13.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark A. Marino sold 14,458 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $2.34, for a total value of $33,831.72. Following the completion of the transaction, the chief financial officer now owns 1,915,356 shares in the company, valued at approximately $4,481,933.04. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,322 shares of company stock worth $542,829. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays lifted their price objective 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 analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.