Rackspace Technology (NASDAQ:RXT) Issues FY 2026 Earnings Guidance

Rackspace Technology (NASDAQ:RXT) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share guidance of -0.200–0.15 for the period, compared to the consensus earnings per share estimate of -0.030. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Rackspace Technology Price Performance

Shares of NASDAQ RXT opened at $1.35 on Thursday. Rackspace Technology has a fifty-two week low of $0.39 and a fifty-two week high of $2.68. The stock has a market capitalization of $328.85 million, a price-to-earnings ratio of -1.25 and a beta of 2.18. The business has a 50-day moving average of $0.88 and a 200-day moving average of $1.16.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CFO Mark A. Marino sold 234,683 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $1.63, for a total value of $382,533.29. Following the transaction, the chief financial officer owned 2,193,115 shares of the company’s stock, valued at approximately $3,574,777.45. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dharmendra Kumar Sinha sold 59,322 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $1.01, for a total value of $59,915.22. Following the transaction, the executive vice president owned 2,509,573 shares in the company, valued at approximately $2,534,668.73. This trade represents a 2.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 385,156 shares of company stock valued at $537,246. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Rackspace Technology

A number of hedge funds have recently bought and sold shares of RXT. Engineers Gate Manager LP raised its holdings in shares of Rackspace Technology by 47.1% during the 2nd quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock worth $45,000 after buying an additional 11,141 shares in the last quarter. Alliancebernstein L.P. grew its position in Rackspace Technology by 4.0% in the third quarter. Alliancebernstein L.P. now owns 290,750 shares of the company’s stock valued at $410,000 after acquiring an additional 11,300 shares during the last quarter. Creative Planning grew its position in Rackspace Technology by 114.2% in the second quarter. Creative Planning now owns 25,715 shares of the company’s stock valued at $33,000 after acquiring an additional 13,708 shares during the last quarter. XTX Topco Ltd raised its stake in Rackspace Technology by 62.8% during the second quarter. XTX Topco Ltd now owns 57,682 shares of the company’s stock worth $74,000 after acquiring an additional 22,243 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Rackspace Technology by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 119,493 shares of the company’s stock worth $153,000 after acquiring an additional 24,173 shares during the last quarter. 82.48% of the stock is owned by institutional investors.

Rackspace Technology Company Profile

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.