Rackspace Technology (NASDAQ:RXT) Stock Price Down 7.7% – Time to Sell?

Posted by Brian Himes on Jul 17th, 2026

Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report)’s stock price dropped 7.7% during trading on Wednesday . The stock traded as low as $4.41 and last traded at $4.2920. 7,025,570 shares traded hands during trading, a decline of 70% from the average session volume of 23,767,885 shares. The stock had previously closed at $4.65.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RXT shares. Royal Bank Of Canada upped their price target on shares of Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rackspace Technology currently has a consensus rating of “Reduce” and an average target price of $2.70.

Check Out Our Latest Stock Analysis on RXT

Rackspace Technology Price Performance

The company has a market capitalization of $1.07 billion, a P/E ratio of -6.90 and a beta of 2.99. The stock has a 50-day moving average price of $5.58 and a 200-day moving average price of $2.78.

Rackspace Technology (NASDAQ:RXT – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $678.10 million during 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

In other news, CFO Mark A. Marino sold 48,099 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $5.56, for a total value of $267,430.44. Following the sale, the chief financial officer directly owned 3,370,431 shares of the company’s stock, valued at approximately $18,739,596.36. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Rackspace Technology

Institutional investors have recently bought and sold shares of the company. Kathmere Capital Management LLC acquired a new position in shares of Rackspace Technology in the 1st quarter valued at about $116,000. AEGON USA Investment Management LLC acquired a new stake in Rackspace Technology during the fourth quarter worth approximately $194,000. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 26,510 shares during the period. Renaissance Technologies LLC grew its stake in Rackspace Technology by 14.0% during the first quarter. Renaissance Technologies LLC now owns 2,041,600 shares of the company’s stock worth $2,000,000 after purchasing an additional 250,700 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Rackspace Technology by 179.7% in the first quarter. Janus Henderson Group PLC now owns 2,937,670 shares of the company’s stock worth $2,878,000 after purchasing an additional 1,887,317 shares in the last quarter. Institutional investors own 82.48% of the company’s stock.

Rackspace Technology Company Profile

(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.