Rackspace Technology (RXT) to Release Earnings on Thursday

Rackspace Technology (NASDAQ:RXT) will be issuing its quarterly earnings data after the market closes on Thursday, August 8th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Rackspace Technology (NASDAQ:RXT) last issued its earnings results on Wednesday, May 15th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $690.80 million for the quarter, compared to the consensus estimate of $684.21 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. On average, analysts expect Rackspace Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Rackspace Technology Price Performance

Shares of Rackspace Technology stock opened at $2.10 on Wednesday. The business has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.04. Rackspace Technology has a 1 year low of $1.15 and a 1 year high of $3.18. The company has a market capitalization of $470.09 million, a price-to-earnings ratio of -0.53 and a beta of 1.98.

Insider Activity

In other news, EVP Dharmendra Kumar Sinha sold 149,249 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $2.36, for a total transaction of $352,227.64. Following the completion of the sale, the executive vice president now owns 2,466,593 shares in the company, valued at $5,821,159.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rackspace Technology news, insider Kellie Teal-Guess sold 61,393 shares of Rackspace Technology stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $2.13, for a total value of $130,767.09. Following the completion of the sale, the insider now owns 909,775 shares in the company, valued at approximately $1,937,820.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dharmendra Kumar Sinha sold 149,249 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $2.36, for a total transaction of $352,227.64. Following the completion of the sale, the executive vice president now directly owns 2,466,593 shares of the company’s stock, valued at approximately $5,821,159.48. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Rackspace Technology Company Profile

Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.