Rackspace Technology (RXT) to Release Quarterly Earnings on Thursday

Rackspace Technology (NASDAQ:RXT) will likely be announcing its Q1 2025 earnings results after the market closes on Thursday, May 8th. Analysts expect the company to announce earnings of ($0.08) per share and revenue of $657.98 million for the quarter. Rackspace Technology has set its Q1 2025 guidance at -0.090–0.070 EPS.

Rackspace Technology (NASDAQ:RXT) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $685.60 million for the quarter, compared to analysts’ expectations of $674.85 million.

Rackspace Technology Stock Performance

RXT opened at $1.36 on Thursday. Rackspace Technology has a fifty-two week low of $1.24 and a fifty-two week high of $3.41. The stock has a market capitalization of $322.74 million, a price-to-earnings ratio of -0.35 and a beta of 2.12. The company has a fifty day moving average of $1.76 and a 200 day moving average of $2.27.

Insider Activity at Rackspace Technology

In related news, CEO Amar Maletira sold 521,840 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $1.87, for a total transaction of $975,840.80. Following the sale, the chief executive officer now owns 4,368,328 shares of the company’s stock, valued at $8,168,773.36. The trade was a 10.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Srini Koushik sold 73,972 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.87, for a total value of $138,327.64. Following the transaction, the insider now owns 935,114 shares in the company, valued at approximately $1,748,663.18. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,154,204 shares of company stock worth $2,384,960 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Barclays cut their price objective on shares of Rackspace Technology from $2.00 to $1.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th.

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.