UBS initiated coverage on Rackspace Technology with a new price target
$RXT
Computer Software: Programming Data Processing
Technology
UBS initiated coverage of Rackspace Technology with a rating of Neutral and set a new price target of $1.40
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/2/2025 | Outperform → Mkt Perform | Raymond James | |
| 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 |
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SAN ANTONIO, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global provider of hybrid cloud and AI solutions, today announced that on September 4, 2025, the Company granted inducement equity awards to Gajen Kandiah in connection with his appointment as the Company's new Chief Executive Officer. Mr. Kandiah received 4,000,000 restricted stock units (RSUs) and non-qualified stock options to purchase 6,000,000 shares of the Company's common stock. The stock options have an exercise price of $1.30 per share, which is equal to the closing price of the Company's common stock on the grant date, and a maximum ten-year term. The RSUs and stock options vest in equal annual
SAN ANTONIO, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global provider of hybrid cloud and AI solutions, today announced that its Board of Directors has appointed Gajen Kandiah as Chief Executive Officer, effective September 3, 2025. Under Mr. Kandiah's leadership, Rackspace will advance its AI-first multicloud strategy by designing, building and operating governed multicloud operations for AI and data workloads across private, public and sovereign clouds with hyperscalers, regional cloud partners and the open ecosystem. Mr. Kandiah succeeds Mr. Amar Maletira who has served as CEO since September 2022 and previously served as CFO. Mr. Maletira will
SAN ANTONIO, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology®, a leading end-to-end hybrid cloud and AI solutions company, and SMPL-C, an AI-powered compliance automation platform, today announced their "Better Together" strategic partnership. The partnership will be delivered through Rackspace Technology Government Solutions, the company's specialized division focused on secure, CMMC-authorized cloud infrastructure and compliance services for federal, state and local agencies as well as the defense industry. This collaboration is designed to empower commercial enterprises working with the federal government to meet evolving Cybersecurity Maturity Model Certification (CMMC) requirem
Raymond James downgraded Rackspace Technology from Outperform to Mkt Perform
UBS initiated coverage of Rackspace Technology with a rating of Neutral and set a new price target of $1.40
Raymond James upgraded Rackspace Technology from Mkt Perform to Outperform and set a new price target of $3.50
Revenue of $666 million in the Second Quarter, down 3% Year-over-YearPrivate Cloud Revenue was $250 million, down 4% Year-over-YearPublic Cloud Revenue was $417 million, down 2% Year-over-YearSecond Quarter 2025 Cash Flow From Operating Activities was $8 million; Cash Flow From Operating Activities was $127 million on a Trailing-Twelve-Month Basis SAN ANTONIO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its second quarter ended June 30, 2025. Amar Maletira, Chief Executive Officer, stated, "I am pleased with our second quarter results. Revenue and operating profit excee
SAN ANTONIO, July 18, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its second quarter 2025 financial results after the market closes on Thursday, August 7, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (August 7, 2025) 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.r
Revenue of $665 million in the First Quarter, down 4% Year-over-YearPrivate Cloud Revenue was $250 million, down 7% Year-over-YearPublic Cloud Revenue was $416 million, down 2% Year-over-YearFirst Quarter 2025 Cash Flow From Operating Activities was $13 million; Cash Flow From Operating Activities was $143 million on a Trailing-Twelve-Month Basis SAN ANTONIO, May 08, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its first quarter ended March 31, 2025. Amar Maletira, Chief Executive Officer, stated, "Results in the first quarter of 2025 exceeded our expectations across all key metr
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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 (
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
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