Rackspace Technology (NASDAQ:RXT – Get Free Report) issued an update on its FY 2026 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -0.300–0.250 for the period, compared to the consensus earnings per share estimate of -0.270. The company issued revenue guidance of $2.5 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion.
Rackspace Technology Stock Performance
Shares of RXT opened at $3.13 on Thursday. The company has a 50-day simple moving average of $3.31 and a 200-day simple moving average of $3.27. The firm has a market capitalization of $797.75 million, a P/E ratio of -5.40 and a beta of 3.29. Rackspace Technology has a 52 week low of $0.39 and a 52 week high of $8.60.
Rackspace Technology (NASDAQ:RXT – Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $609.10 million for the quarter, compared to analyst estimates of $573.96 million. As a group, equities analysts forecast that Rackspace Technology will post -0.28 earnings per share for the current year.
Analyst Ratings Changes
RXT has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Wall Street Zen lowered Rackspace Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $4.00.
Insider Activity
In other news, CEO Gajakarnan Kandiah sold 498,728 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $3.21, for a total value of $1,600,916.88. Following the sale, the chief executive officer owned 3,684,955 shares of the company’s stock, valued at approximately $11,828,705.55. This represents a 11.92% decrease in their position. The transaction was disclosed in a document filed 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. Also, Director Anthony Scott sold 48,780 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.25, for a total transaction of $207,315.00. Following the sale, the director owned 180,215 shares of the company’s stock, valued at $765,913.75. This trade represents a 21.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 714,141 shares of company stock worth $2,299,799 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
About Rackspace Technology
Rackspace Technology, Inc. (NASDAQ: RXT) provides multicloud technology services to businesses and public-sector organizations. Its offerings include cloud strategy and migration, infrastructure management, application modernization, data services, and cybersecurity. The company helps customers operate workloads across public cloud platforms, including Amazon Web Services, Microsoft Azure, and Google Cloud, as well as private and hybrid cloud environments. Its services include consulting and ongoing support tailored to customers’ technology needs.
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