Rackspace Technology (NASDAQ:RXT) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.950-1.050 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.010. The company issued revenue guidance of $2.70 billion-2.90 billion, compared to the consensus revenue estimate of $3.02 billion.Rackspace Technology also updated its Q2 2021 guidance to $0.210-0.230 EPS.
Several equities analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Rackspace Technology in a report on Wednesday, March 31st. They set an outperform rating on the stock. Zacks Investment Research upgraded shares of Rackspace Technology from a sell rating to a hold rating in a report on Tuesday, May 25th. Finally, Raymond James upgraded shares of Rackspace Technology from an outperform rating to a strong-buy rating in a report on Tuesday, May 18th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $27.95.
Rackspace Technology stock traded down $0.26 during mid-day trading on Thursday, hitting $20.91. The company had a trading volume of 33,468 shares, compared to its average volume of 1,917,723. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.12 and a quick ratio of 1.12. Rackspace Technology has a 12-month low of $15.25 and a 12-month high of $26.43. The firm’s fifty day moving average is $22.82. The stock has a market cap of $4.34 billion and a P/E ratio of -15.28.
In other Rackspace Technology news, CEO Kevin M. Jones bought 5,409 shares of the firm’s stock in a transaction dated Thursday, May 13th. The shares were purchased at an average price of $18.44 per share, for a total transaction of $99,741.96. Following the transaction, the chief executive officer now directly owns 777,279 shares of the company’s stock, valued at approximately $14,333,024.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Tolga Tarhan sold 30,705 shares of the stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $18.23, for a total value of $559,752.15. Following the transaction, the chief technology officer now owns 76,578 shares in the company, valued at approximately $1,396,016.94. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 14,798 shares of company stock worth $274,954. Insiders own 0.76% of the company’s stock.
Rackspace Technology Company Profile
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications.
Further Reading: Conference Calls and Individual Investors
Receive News & Ratings for Rackspace Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Technology and related companies with MarketBeat.com's FREE daily email newsletter.