Rackspace Technology (NASDAQ:RXT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Rackspace Technology (NASDAQ:RXT) released its quarterly earnings results on Thursday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports. Rackspace Technology updated its Q1 2025 guidance to -0.090–0.070 EPS.

Rackspace Technology Price Performance

Shares of Rackspace Technology stock traded down $0.02 during midday trading on Thursday, hitting $2.88. The company had a trading volume of 832,203 shares, compared to its average volume of 812,482. The business’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $2.48. The stock has a market cap of $655.40 million, a PE ratio of -0.83 and a beta of 2.04. Rackspace Technology has a 1-year low of $1.45 and a 1-year high of $3.41.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their price target on shares of Rackspace Technology from $1.00 to $2.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.47.

Insider Transactions at Rackspace Technology

In other Rackspace Technology news, CFO Mark A. Marino sold 14,458 shares of Rackspace Technology stock in a transaction on Monday, January 27th. The shares were sold at an average price of $2.34, for a total transaction of $33,831.72. Following the sale, the chief financial officer now owns 1,915,356 shares in the company, valued at $4,481,933.04. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amar Maletira sold 55,461 shares of Rackspace Technology 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 sale, the chief executive officer now owns 4,928,523 shares in the company, valued at $12,518,448.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,322 shares of company stock worth $542,829. Insiders own 2.00% of the company’s stock.

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.