Rackspace Technology (NASDAQ:RXT) Stock Price Down 3.2% – Time to Sell?

Rackspace Technology, Inc. (NASDAQ:RXT)’s share price fell 3.2% on Friday . The stock traded as low as $0.6115 and last traded at $0.6116. 1,509,375 shares were traded during trading, an increase of 18% from the average session volume of 1,277,883 shares. The stock had previously closed at $0.6318.

Analyst Upgrades and Downgrades

RXT has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rackspace Technology in a report on Thursday, January 22nd. Royal Bank Of Canada cut their target price on Rackspace Technology from $2.00 to $1.75 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $1.51.

Rackspace Technology Stock Down 3.2%

The firm has a market capitalization of $148.98 million, a price-to-earnings ratio of -0.57 and a beta of 2.13. The stock has a 50 day moving average of $0.98 and a 200 day moving average of $1.23.

Rackspace Technology (NASDAQ:RXT) last released its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $671.20 million for the quarter, compared to the consensus estimate of $666.83 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. Rackspace Technology has set its Q4 2025 guidance at -0.050–0.030 EPS.

Insiders Place Their Bets

In other Rackspace Technology news, EVP Dharmendra Kumar Sinha sold 59,322 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $1.01, for a total transaction of $59,915.22. Following the completion of the sale, the executive vice president owned 2,509,573 shares in the company, valued at $2,534,668.73. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rackspace Technology

A number of institutional investors have recently modified their holdings of RXT. AustralianSuper Pty Ltd acquired a new stake in Rackspace Technology in the third quarter worth $2,276,000. Intech Investment Management LLC grew its position in shares of Rackspace Technology by 45.4% during the second quarter. Intech Investment Management LLC now owns 51,692 shares of the company’s stock worth $66,000 after acquiring an additional 16,152 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Rackspace Technology in the 2nd quarter worth about $26,000. Raymond James Financial Inc. increased its holdings in shares of Rackspace Technology by 15.1% in the 2nd quarter. Raymond James Financial Inc. now owns 443,090 shares of the company’s stock worth $567,000 after acquiring an additional 58,180 shares during the period. Finally, XTX Topco Ltd lifted its position in Rackspace Technology by 62.8% in the 2nd quarter. XTX Topco Ltd now owns 57,682 shares of the company’s stock valued at $74,000 after purchasing an additional 22,243 shares during the last quarter. Institutional investors own 82.48% of the company’s stock.

About Rackspace Technology

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.