In the last trading session, 1.02 million shares of the Rackspace Technology Inc (NASDAQ:RXT) were traded, and its beta was 2.16. Most recently the company’s share price was $1.32, and it changed around -$0.02 or -1.49% from the last close, which brings the market valuation of the company to $313.24M. RXT currently trades at a discount to its 52-week high of $3.41, offering almost -158.33% off that amount. The share price’s 52-week low was $1.30, which indicates that the current value has risen by an impressive 1.52% since then. We note from Rackspace Technology Inc’s average daily trading volume that its 10-day average is 0.97 million shares, with the 3-month average coming to 952.76K.
Rackspace Technology Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.17. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended RXT as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Rackspace Technology Inc is expected to report earnings per share of -0.08 for the current quarter.
Rackspace Technology Inc (NASDAQ:RXT) trade information
Instantly RXT has showed a red trend with a performance of -1.49% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.5100 on recent trading dayincreased the stock’s daily price by 12.58%. The company’s shares are currently down -40.27% year-to-date, but still down -2.22% over the last five days. On the other hand, Rackspace Technology Inc (NASDAQ:RXT) is -32.31% down in the 30-day period. We can see from the shorts that 3.97 million shares have been sold at a short interest cover period of 3.7 day(s).
The consensus price target as assigned by Wall Street analysts is $3.5, which translates to bulls needing to increase their stock price by 62.29% from its current value. Analyst projections state that RXT is forecast to be at a low of $3.5 and a high of $3.5.
Rackspace Technology Inc (RXT) estimates and forecasts
The year-over-year growth rate is expected to be -1.88%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 657.98M in revenue for the current quarter. 4 analysts expect Rackspace Technology Inc to make 663.9M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 690.8M and 684.9M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.75%. Forecasts for the next quarter put sales growth at -3.07%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -50.09%.
RXT Dividends
Rackspace Technology Inc’s next quarterly earnings report is expected to be released on 2025-Feb-19.
Rackspace Technology Inc (NASDAQ:RXT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.96% of Rackspace Technology Inc shares, and 80.16% of them are in the hands of institutional investors. The stock currently has a share float of 81.77%. Rackspace Technology Inc stock is held by 135.0 institutions, with APOLLO MANAGEMENT HOLDINGS, L.P. being the largest institutional investor. By 2024-06-30, it held 57.7323% of the shares, which is about 129.61 million shares worth $386.23 million.
LEGAL & GENERAL GROUP PLC, with 3.4965% or 7.85 million shares worth $23.39 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
iShares Trust-iShares Russell 2000 ETF and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 28, 2025 . The former held 1.86 shares worth $2.45 million, making up 0.78% of all outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held roughly 1.69 shares worth around $2.24 million, which represents about 0.71% of the total shares outstanding.
