Rackspace Technology (NASDAQ:RXT - Get Free Report) is anticipated to announce its earnings results 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. Investors that wish to listen to the company's conference call can do so using this link.
Rackspace Technology Stock Performance
Shares of NASDAQ:RXT traded down $0.09 during trading on Friday, reaching $2.87. 427,780 shares of the stock were exchanged, compared to its average volume of 879,631. Rackspace Technology has a 12-month low of $1.45 and a 12-month high of $3.41. The firm has a market cap of $653.13 million, a price-to-earnings ratio of -0.82 and a beta of 2.04. The firm's 50-day moving average price is $2.47 and its 200 day moving average price is $2.47.
Analyst Ratings Changes
Separately, Barclays boosted 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 issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.47.
View Our Latest Report on RXT
Insider Activity at Rackspace Technology
In related news, CEO Amar Maletira sold 55,461 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $2.54, for a total transaction of $140,870.94. Following the completion of the transaction, the chief executive officer now directly owns 4,928,523 shares in the company, valued at $12,518,448.42. This represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Srini Koushik sold 19,470 shares of the company's 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 of the company's stock, valued at approximately $2,740,164.93. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,322 shares of company stock valued at $542,829. Corporate insiders own 2.00% of the company's stock.
Rackspace Technology Company Profile
(
Get Free Report)
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.
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