In the last trading session, 1.57 million Rackspace Technology Inc (NASDAQ:RXT) shares changed hands as the company’s beta touched 2.01. With the company’s per share price at $2.86 changed hands at $0.07 or 2.51% during last session, the market valuation stood at $646.45M. RXT’s last price was a discount, traded about -11.19% off its 52-week high of $3.18. The share price had its 52-week low at $1.22, which suggests the last value was 57.34% up since then. When we look at Rackspace Technology Inc’s average trading volume, we note the 10-day average is 0.88 million shares, with the 3-month average coming to 618.05K.
Analysts gave the Rackspace Technology Inc (RXT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.17. If we narrow down to specifics, the data shows that 3 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended RXT as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Rackspace Technology Inc’s EPS for the current quarter is expected to be -0.07.
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Rackspace Technology Inc (NASDAQ:RXT) trade information
Instantly RXT was in green as seen at the end of in last trading. With action 11.72%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 43.00%, with the 5-day performance at 11.72% in the green. However, in the 30-day time frame, Rackspace Technology Inc (NASDAQ:RXT) is 8.33% up. Looking at the short shares, we see there were 5.41 million shares sold at short interest cover period of 9.2 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2.75, meaning bulls need a downside of -4.0% from its current market value. According to analyst projections, RXT’s forecast low is 1.8 with 5 as the target high. To hit the forecast high, the stock’s price needs a -74.83% plunge from its current level, while the stock would need to tank 37.06% for it to hit the projected low.
Rackspace Technology Inc (RXT) estimates and forecasts
Data shows that the Rackspace Technology Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 38.16% over the past 6 months, a -113.33% in annual growth rate that is considerably lower than the industry average of 18.60%. Year-over-year growth is forecast to reach -8.00% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 675.14M. 4 analysts are of the opinion that Rackspace Technology Inc’s revenue for the current quarter will be 671.07M. The company’s revenue for the corresponding quarters a year ago was 732.4M and 719.7M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.80%. The estimates for the next quarter sales put growth at -6.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -11.03%. The 2024 estimates are for Rackspace Technology Inc earnings to decrease by -110.18%.
RXT Dividends
Rackspace Technology Inc is expected to release its next quarterly earnings report in December.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.88% of Rackspace Technology Inc shares while 87.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.04%. There are 87.44% institutions holding the Rackspace Technology Inc stock share, with APOLLO MANAGEMENT HOLDINGS, L.P. the top institutional holder. As of 2024-06-30, the company held 58.9668% of the shares, roughly 129.61 million RXT shares worth $386.23 million.
LEGAL & GENERAL GROUP PLC holds the second largest percentage of outstanding shares, with 3.5713% or 7.85 million shares worth $23.39 million as of 2024-06-30.
