Rackspace Technology (NASDAQ:RXT) Sets New 12-Month High – Time to Buy?

Posted by Geri Gentry on May 13th, 2026

Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $6.34 and last traded at $6.33, with a volume of 60544385 shares traded. The stock had previously closed at $4.69.

Analysts Set New Price Targets

RXT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rackspace Technology in a research report on Thursday, January 22nd. Royal Bank Of Canada boosted their price target on Rackspace Technology from $1.75 to $2.50 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $1.95.

Read Our Latest Analysis on Rackspace Technology

Rackspace Technology Price Performance

The firm’s 50-day moving average is $1.83 and its 200-day moving average is $1.33. The company has a market capitalization of $1.58 billion, a P/E ratio of -10.38 and a beta of 2.23.

Rackspace Technology (NASDAQ:RXT – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $678.10 million for the quarter, compared to the consensus estimate of $660.83 million. Rackspace Technology has set its FY 2026 guidance at -0.200–0.150 EPS. As a group, analysts forecast that Rackspace Technology, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Rackspace Technology

In related news, EVP Dharmendra Kumar Sinha sold 188,123 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $1.81, for a total transaction of $340,502.63. Following the completion of the sale, the executive vice president directly owned 2,276,057 shares in the company, valued at approximately $4,119,663.17. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark A. Marino sold 14,058 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $1.81, for a total value of $25,444.98. Following the transaction, the chief financial officer owned 2,158,874 shares of the company’s stock, valued at approximately $3,907,561.94. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 502,440 shares of company stock valued at $867,173 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AustralianSuper Pty Ltd bought a new position in shares of Rackspace Technology during the 3rd quarter valued at approximately $2,276,000. Engineers Gate Manager LP grew its stake in shares of Rackspace Technology by 47.1% during the 2nd quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock valued at $45,000 after acquiring an additional 11,141 shares during the period. Jump Financial LLC bought a new position in shares of Rackspace Technology during the 4th quarter valued at approximately $34,000. Creative Planning grew its stake in shares of Rackspace Technology by 114.2% during the 2nd quarter. Creative Planning now owns 25,715 shares of the company’s stock valued at $33,000 after acquiring an additional 13,708 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Rackspace Technology by 35.4% during the 1st quarter. Bank of New York Mellon Corp now owns 239,954 shares of the company’s stock valued at $235,000 after acquiring an additional 62,768 shares during the period. 82.48% of the stock is currently owned by institutional investors.

About Rackspace Technology

(Get Free Report)

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.