Rackspace Technology, Inc. (NASDAQ:RXT) Director Dhiren R. Fonseca sold 26,096 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $21.17, for a total value of $552,452.32. Following the sale, the director now owns 38,240 shares of the company’s stock, valued at $809,540.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
RXT opened at $20.86 on Friday. The company’s 50 day simple moving average is $22.74. The company has a market capitalization of $4.33 billion and a PE ratio of -15.23. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.12 and a current ratio of 1.12. Rackspace Technology, Inc. has a twelve month low of $15.25 and a twelve month high of $26.43.
Rackspace Technology (NASDAQ:RXT) last announced its earnings results on Monday, May 10th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Rackspace Technology had a positive return on equity of 14.18% and a negative net margin of 9.41%. The firm had revenue of $725.90 million for the quarter, compared to analysts’ expectations of $724.67 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts forecast that Rackspace Technology, Inc. will post 1 earnings per share for the current fiscal year.
RXT has been the subject of several recent analyst reports. Raymond James upgraded Rackspace Technology from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, May 18th. William Blair initiated coverage on Rackspace Technology in a research note on Wednesday, March 31st. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Rackspace Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, May 25th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.95.
Rackspace Technology Company Profile
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications.
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