Rackspace Tech Q1 2024 Adj EPS $(0.11) Beats $(0.13) Estimate, Sales $691.000M Beat $684.252M Estimate

5/9/24 4:19:56 PM ET

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Rackspace Tech (NASDAQ:RXT) reported quarterly losses of $(0.11) per share which beat the analyst consensus estimate of $(0.13) by 15.38 percent. The company reported quarterly sales of $691.000 million which beat the analyst consensus estimate of $684.252 million by 0.99 percent. This is a 8.92 percent decrease over sales of $758.700 million the same period last year.

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Recent Analyst Ratings for
$RXT

Date	Price Target	Rating	Analyst
11/7/2023	$1.40	Neutral	UBS
9/19/2023	$3.50	Mkt Perform → Outperform	Raymond James
7/25/2023	$1.25 → $1.50	Neutral → Sell	Citigroup
10/11/2022	$9.00 → $5.00	Outperform → In-line	Evercore ISI
8/16/2022	$7.00 → $5.00	Neutral → Underweight	JP Morgan
8/11/2022	$9.00 → $7.00	Outperform → Sector Perform	RBC Capital Mkts
8/10/2022		Outperform → Mkt Perform	William Blair
8/10/2022		Outperform → Mkt Perform	Raymond James

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$RXT
Leadership Updates

Live Leadership Updates

Investor Group Announces Slate of Highly Qualified, Independent Director Candidates and Proposed Management Team for Norfolk Southern Corporation
Introduces Eight-Member Slate with Deep Experience in Governance, Finance, Legislative and Regulatory Affairs, Strategic Transformations, Transportation and the Railroad Sector Proposes Jim Barber, a Proven Transportation Network Leader and Former Executive at UPS, as CEO and Jamie Boychuk, a Career Railroader and Former Executive at CSX, as COO Introduces "Network of the Future" Strategy Offering Path to Significant Value Creation Releases Presentation Entitled "The Case for Leadership, Safety and Strategy Changes at Norfolk Southern" That is Downloadable at www.MoveNSCForward.com Ohio-based Ancora Holdings Group, LLC, its affiliates and the other participants in its solicitation (
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Rackspace Technology Appoints Experienced and Seasoned Executive Mark Gross to Board of Directors
SAN ANTONIO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid, multicloud technology solutions company, today announced the appointment of Mark Gross to its Board of Directors. Gross is an experienced and dynamic leader with over 25 years of broad-based experience, financial expertise, and deep insight into leading business transformations. Gross succeeds Thomas Cole, who unexpectedly passed away over the recent holiday season. "We were fortunate to find Mark, a seasoned executive with financial expertise and broad business experience to complement our current Board. We look forward to his guidance, helping to further solidify our market po
2/8/24 8:30:00 AM ET
$RXT
Computer Software: Programming Data Processing
Technology
Rackspace Technology Promotes Mark Marino to Chief Financial Officer
SAN ANTONIO, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end, hybrid multicloud technology solutions company, today announced the appointment of Mark Marino as Chief Financial Officer (CFO), effective immediately. Marino previously served as the Company's Chief Accounting Officer and succeeds Naushaza "Bobby" Molu. Molu resigned his position to pursue a new opportunity in the UK, where he resides. He will remain with Rackspace Technology in an advisory role through late February to ensure a seamless transition. "I am delighted to welcome Mark as our CFO," said Amar Maletira, Chief Executive Officer. "Having worked with Mark since I joined Rackspa
1/12/24 8:30:00 AM ET
$RXT
Computer Software: Programming Data Processing
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Rackspace Technology Signs Multi-Year, Strategic Collaboration Agreement with AWS to Deliver Accelerated Digital Transformation for Customers
SAN ANTONIO, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading hybrid, multicloud, and AI technology services company, announced today that it has signed a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS), with plans to offer end-to-end cloud advisory, fin-ops, migration, modernization, cloud data, machine learning (ML) and generative AI solutions to accelerate customer value across their cloud adoption journey. The SCA includes a significant investment to help customers accelerate their migration and modernization initiatives for applications, data, and cloud infrastructure through the global expansion of the Rackspace Technology Migra
10/30/24 11:05:00 AM ET
$RXT
Computer Software: Programming Data Processing
Technology
Rackspace Technology Achieves AWS Small and Medium Business Competency
SAN ANTONIO, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, announced today that it has achieved the Amazon Web Services (AWS) Small and Medium Business (SMB) Competency. This specialization recognizes Rackspace Technology as an AWS Partner with a unique focus on SMB customers. Achieving the AWS SMB Competency differentiates Rackspace Technology as an AWS Partner with demonstrated proficiency and proven customer success, helping SMBs solve their business and technical problems. Rackspace Technology is equipped to handle these challenges with solutions designed with their customers' unique needs in
10/28/24 11:05:00 AM ET
$RXT
Computer Software: Programming Data Processing
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Rackspace Technology to Announce Third Quarter 2024 Earnings on November 12, 2024
SAN ANTONIO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT)— a leading hybrid, multicloud, and AI solutions company, today announced that it will release its third quarter 2024 financial results after the market closes on Tuesday, November 12, 2024. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (November 12, 2024) at 5:00 PM ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace
10/23/24 4:18:58 PM ET
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$RXT
Market Insights

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Basware Selects Rackspace's Foundry For AI To Enhance ETL Coding Process And Accelerate Innovation
Basware partnered with Rackspace Technology to experiment with training code-generating language models using Amazon Bedrock and Amazon Web Services (AWS). This enabled Basware to innovate faster for its customers, accelerating time to value. This in turn can enable its customers to focus on their everyday business operations rather than the technology implementation.
7/16/24 3:07:35 AM ET
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Why SolarEdge Shares Are Trading Lower By 12%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell sharply during Monday's session after the company announced a workforce reduction. SolarEdge disclosed a decision to lay off 400 employees. The company stated that 200 of these job cuts are in Israel. The action involves reducing headcount and discretionary spending across all departments. SolarEdge Technologies shares dipped 12.2% to $27.77 on Monday. Here are some other stocks moving in today’s mid-day session. Gainers Autonomix Medical, Inc. (NASDAQ:AMIX) shares climbed 148% to $1.4850 after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Gener
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Rackspace Technology to Announce Third Quarter 2024 Earnings on November 12, 2024
SAN ANTONIO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT)— a leading hybrid, multicloud, and AI solutions company, today announced that it will release its third quarter 2024 financial results after the market closes on Tuesday, November 12, 2024. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (November 12, 2024) at 5:00 PM ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace
10/23/24 4:18:58 PM ET
$RXT
Computer Software: Programming Data Processing
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Rackspace Technology Reports Second Quarter 2024 Results
Revenue of $685 million in the Second Quarter, down 8% Year-over-YearPrivate Cloud Revenue was $260 million, down 17% Year-over-YearPublic Cloud Revenue was $425 million, down 2% Year-over-YearSecond Quarter 2024 Cash Flow From Operating Activities was $24 million; Cash Flow From Operating Activities was $273 million on a Trailing-Twelve-Month Basis SAN ANTONIO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, today announced results for its second quarter ended June 30, 2024. Amar Maletira, Chief Executive Officer, stated, "Our second quarter financial results once again exceede
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$RXT
Computer Software: Programming Data Processing
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Rackspace Technology to Announce Second Quarter 2024 Earnings August 8, 2024
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7/22/24 4:22:25 PM ET
$RXT
Computer Software: Programming Data Processing
Technology

Rackspace Tech Q1 2024 Adj EPS $(0.11) Beats $(0.13) Estimate, Sales $691.000M Beat $684.252M Estimate

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Recent Analyst Ratings for $RXT

$RXT Analyst Ratings

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UBS initiated coverage on Rackspace Technology with a new price target

Rackspace Technology upgraded by Raymond James with a new price target

Rackspace Technology downgraded by Citigroup with a new price target

$RXT Leadership Updates

Live Leadership Updates

Investor Group Announces Slate of Highly Qualified, Independent Director Candidates and Proposed Management Team for Norfolk Southern Corporation

Rackspace Technology Appoints Experienced and Seasoned Executive Mark Gross to Board of Directors

Rackspace Technology Promotes Mark Marino to Chief Financial Officer

$RXT SEC Filings

$RXT Insider Trading

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$RXT Press Releases

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$RXT Large Ownership Changes

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SEC Form S-8 filed by Rackspace Technology Inc.

SEC Form 10-Q filed by Rackspace Technology Inc.

Rackspace Technology Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

Chief Executive Officer Maletira Amar sold $618,635 worth of shares (259,238 units at $2.39), decreasing direct ownership by 5% to 4,983,984 units (SEC Form 4)

EVP, President Private Cloud Lillie Brian covered exercise/tax liability with 37,879 shares, decreasing direct ownership by 2% to 2,007,288 units (SEC Form 4)

Chief Technology Officer Koushik Srini covered exercise/tax liability with 23,187 shares, decreasing direct ownership by 2% to 1,045,749 units (SEC Form 4)

Rackspace Technology Signs Multi-Year, Strategic Collaboration Agreement with AWS to Deliver Accelerated Digital Transformation for Customers

Rackspace Technology Achieves AWS Small and Medium Business Competency

Rackspace Technology to Announce Third Quarter 2024 Earnings on November 12, 2024

SEC Form SC 13G/A filed by Rackspace Technology Inc. (Amendment)

SEC Form SC 13G/A filed by Rackspace Technology Inc. (Amendment)

SEC Form SC 13G/A filed by Rackspace Technology Inc. (Amendment)

$RXT Market Insights

Live Market Insights

Basware Selects Rackspace's Foundry For AI To Enhance ETL Coding Process And Accelerate Innovation

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$RXT Financials

Live finance-specific insights

Rackspace Technology to Announce Third Quarter 2024 Earnings on November 12, 2024

Rackspace Technology Reports Second Quarter 2024 Results

Rackspace Technology to Announce Second Quarter 2024 Earnings August 8, 2024

Recent Analyst Ratings for
$RXT

$RXT
Analyst Ratings

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Leadership Updates

$RXT
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Press Releases

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Large Ownership Changes

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