In the last trading session, 1.68 million Rackspace Technology Inc (NASDAQ:RXT) shares changed hands as the company’s beta touched 2.04. With the company’s per share price at $1.95 changed hands at -$0.15 or -7.14% during last session, the market valuation stood at $443.76M. RXT’s last price was a discount, traded about -74.87% off its 52-week high of $3.41. The share price had its 52-week low at $1.45, which suggests the last value was 25.64% up since then. When we look at Rackspace Technology Inc’s average trading volume, we note the 10-day average is 0.93 million shares, with the 3-month average coming to 852.25K.
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 -0.08.
Rackspace Technology Inc (NASDAQ:RXT) trade information
Instantly RXT was in red as seen at the end of in last trading. With action -5.34%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -11.76%, with the 5-day performance at -5.34% in the red. However, in the 30-day time frame, Rackspace Technology Inc (NASDAQ:RXT) is -34.12% down. Looking at the short shares, we see there were 3.03 million shares sold at short interest cover period of 3.21 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3.5, meaning bulls need an upside of 44.29% from its current market value. According to analyst projections, RXT’s forecast low is 3.5 with 3.5 as the target high. To hit the forecast high, the stock’s price needs a -79.49% plunge from its current level, while the stock would need to soar -79.49% for it to hit the projected low.
Rackspace Technology Inc (RXT) estimates and forecasts
Year-over-year growth is forecast to reach -1.88% down from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of 657.98M. 4 analysts are of the opinion that Rackspace Technology Inc’s revenue for the current quarter will be 663.9M. The company’s revenue for the corresponding quarters a year ago was 690.8M and 684.9M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -4.75%. The estimates for the next quarter sales put growth at -3.07%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -50.24%. The 2025 estimates are for Rackspace Technology Inc earnings to increase by 54.64%.
RXT Dividends
Rackspace Technology Inc is expected to release its next quarterly earnings report on 2025-Feb-19.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.16% of Rackspace Technology Inc shares while 83.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.95%. There are 83.12% 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 57.7323% 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.
Among Mutual Funds, the top two as of Dec 31, 2024 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund . With 1.96 shares estimated at $3.81 million under it, the former controlled 0.86% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 0.74% of the shares, roughly 1.69 shares worth around $3.3 million.
