Rackspace Technology (NASDAQ:RXT) Stock Price Up 6.7% – Time to Buy?

Posted by Francis Steltz on Jul 16th, 2026

Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report)’s stock price shot up 6.7% during trading on Tuesday . The stock traded as high as $4.89 and last traded at $4.8230. Approximately 3,139,532 shares changed hands during trading, a decline of 87% from the average session volume of 23,796,438 shares. The stock had previously closed at $4.52.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Royal Bank Of Canada lifted their price target on Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Rackspace Technology presently has a consensus rating of “Reduce” and a consensus target price of $2.70.

Read Our Latest Stock Report on RXT

Rackspace Technology Stock Performance

The stock has a market cap of $1.13 billion, a P/E ratio of -7.29 and a beta of 2.99. The company’s 50 day moving average price is $5.57 and its 200-day moving average price is $2.76.

Rackspace Technology (NASDAQ:RXT – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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.

Insider Activity at Rackspace Technology

In other Rackspace Technology news, CFO Mark A. Marino sold 48,099 shares of Rackspace Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $5.56, for a total transaction of $267,430.44. Following the transaction, the chief financial officer owned 3,370,431 shares of the company’s stock, valued at $18,739,596.36. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rackspace Technology

A number of hedge funds have recently bought and sold shares of RXT. AEGON USA Investment Management LLC bought a new stake in shares of Rackspace Technology during the 4th quarter worth $194,000. Kathmere Capital Management LLC bought a new position in Rackspace Technology during the first quarter valued at about $116,000. Abel Hall LLC bought a new position in Rackspace Technology during the first quarter valued at about $30,000. SG Americas Securities LLC purchased a new stake in Rackspace Technology during the first quarter worth about $34,000. Finally, JPMorgan Chase & Co. increased its holdings in Rackspace Technology by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 1,464,389 shares of the company’s stock worth $2,065,000 after buying an additional 26,510 shares during the last quarter. 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.