Rackspace Technology Inc (NASDAQ:RXT) has a beta value of 1.98 and has seen 1.27 million shares traded in the last trading session. The company, currently valued at $529.97M, closed the last trade at $2.40 per share which meant it gained $0.07 on the day or 3.00% during that session. The RXT stock price is -32.5% off its 52-week high price of $3.18 and 49.17% above the 52-week low of $1.22. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.42 million shares traded. The 3-month trading volume is 637.28K shares.
The consensus among analysts is that Rackspace Technology Inc (RXT) is Buy stock at the moment, with a recommendation rating of 3.17. 3 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 8 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.07.
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Rackspace Technology Inc (NASDAQ:RXT) trade information
Sporting 3.00% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the RXT stock price touched $2.40 or saw a rise of 11.44%. Year-to-date, Rackspace Technology Inc shares have moved 20.00%, while the 5-day performance has seen it change -6.25%. Over the past 30 days, the shares of Rackspace Technology Inc (NASDAQ:RXT) have changed -5.51%. Short interest in the company has seen 5.41 million shares shorted with days to cover at 9.2.
Wall Street analysts have a consensus price target for the stock at $2.75, which means that the shares’ value could jump 12.73% from current levels. The projected low price target is $1.8 while the price target rests at a high of $5.0. In that case, then, we find that the current price level is -108.33% off the targeted high while a plunge would see the stock lose 25.0% from current levels.
Rackspace Technology Inc (RXT) estimates and forecasts
Figures show that Rackspace Technology Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 31.87% over the past 6 months, with this year growth rate of -113.33%, compared to 18.80% for the industry. Revenue growth from the last financial year stood is estimated to be -8.00%.
5 analysts offering their estimates for the company have set an average revenue estimate of 675.14M for the current quarter. 4 have an estimated revenue figure of 671.07M for the next ending quarter. Year-ago sales stood 732.4M and 719.7M respectively for this quarter and the next, and analysts expect sales will shrink by -7.80% for the current quarter and -8.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -11.03% over the past 5 years.
RXT Dividends
Rackspace Technology Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
Insiders own 2.88% of the company shares, while shares held by institutions stand at 87.37% with a share float percentage of 89.97%. Investors are also buoyed by the number of investors in a company, with Rackspace Technology Inc having a total of 126.0 institutions that hold shares in the company. The top two institutional holders are APOLLO MANAGEMENT HOLDINGS, L.P. with over 129.61 million shares worth more than $386.23 million. As of 2024-06-30, APOLLO MANAGEMENT HOLDINGS, L.P. held 58.9668% of shares outstanding.
The other major institutional holder is LEGAL & GENERAL GROUP PLC, with the holding of over 7.85 million shares as of 2024-06-30. The firm’s total holdings are worth over $23.39 million and represent 3.5713% of shares outstanding.
