Analysts Set Rackspace Technology, Inc. (NASDAQ:RXT) Price Target at $1.51

Shares of Rackspace Technology, Inc. (NASDAQ:RXT) have earned an average rating of “Reduce” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $1.5125.

RXT has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rackspace Technology in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on Rackspace Technology from $2.00 to $1.75 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Finally, Wall Street Zen raised shares of Rackspace Technology from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th.

Rackspace Technology Stock Performance

RXT opened at $1.03 on Monday. Rackspace Technology has a twelve month low of $0.97 and a twelve month high of $3.03. The firm has a market capitalization of $250.90 million, a PE ratio of -0.95 and a beta of 2.13. The firm’s 50-day moving average price is $1.26 and its 200 day moving average price is $1.31.

Rackspace Technology (NASDAQ:RXT) last released its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $671.20 million during the quarter, compared to analysts’ expectations of $666.83 million. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. Rackspace Technology has set its Q4 2025 guidance at -0.050–0.030 EPS.

Insiders Place Their Bets

In other Rackspace Technology news, EVP Dharmendra Kumar Sinha sold 91,151 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $1.04, for a total value of $94,797.04. Following the transaction, the executive vice president directly owned 2,568,895 shares in the company, valued at $2,671,650.80. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Verition Fund Management LLC acquired a new stake in Rackspace Technology during the third quarter worth $151,000. Bank of America Corp DE grew its holdings in shares of Rackspace Technology by 31.3% during the 3rd quarter. Bank of America Corp DE now owns 344,185 shares of the company’s stock worth $485,000 after purchasing an additional 82,011 shares during the period. Alliancebernstein L.P. increased its position in shares of Rackspace Technology by 4.0% during the 3rd quarter. Alliancebernstein L.P. now owns 290,750 shares of the company’s stock worth $410,000 after purchasing an additional 11,300 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Rackspace Technology by 368.4% during the 3rd quarter. Two Sigma Investments LP now owns 673,689 shares of the company’s stock worth $950,000 after purchasing an additional 529,862 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Rackspace Technology in the 3rd quarter valued at about $367,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

Rackspace Technology Company Profile

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.