Rackspace Technology, Inc. operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications. Its Apps & Cross Platform segment includes managed applications; managed security services in the areas of security threat assessment and prevention, threat detection and response, rapid remediation, governance, and risk and compliance assistance across multiple cloud platforms, as well as privacy and data protection services, including detailed access restrictions and reporting and data services; and professional services related to designing and implementing application, security, and data services. The company serves financial, government, healthcare, manufacturing, non-profit, education, consumer goods, oil and gas, media and entertainment, automotive and transportation, food and beverage, travel and hospitality, retail, and public sectors, as well as SaaS and ISV clients. Rackspace Technology, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.
IPO Year: 2020
Exchange: NASDAQ
Website: rackspace.com
| 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 | |
| 7/15/2022 | $5.00 | Equal Weight → Underweight | Barclays |
| 5/11/2022 | $12.00 | Mkt Perform → Outperform | Raymond James |
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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
Citigroup downgraded Rackspace Technology from Neutral to Sell and set a new price target of $1.50 from $1.25 previously
Evercore ISI downgraded Rackspace Technology from Outperform to In-line and set a new price target of $5.00 from $9.00 previously
JP Morgan downgraded Rackspace Technology from Neutral to Underweight and set a new price target of $5.00 from $7.00 previously
RBC Capital Mkts downgraded Rackspace Technology from Outperform to Sector Perform and set a new price target of $7.00 from $9.00 previously
William Blair downgraded Rackspace Technology from Outperform to Mkt Perform
Raymond James downgraded Rackspace Technology from Outperform to Mkt Perform
Barclays downgraded Rackspace Technology from Equal Weight to Underweight and set a new price target of $5.00
Raymond James upgraded Rackspace Technology from Mkt Perform to Outperform and set a new price target of $12.00
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
SAN ANTONIO, April 15, 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 first quarter 2025 financial results after the market closes on Thursday, May 8, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 8, 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.rackspace.com/news
Fourth Quarter Revenue of $686 million, down 5% Year-over-Year; 2024 Revenue of $2,737 million, down 7% Year-over-YearFourth Quarter Private Cloud Revenue of $269 million, down 6% Year-over-Year; 2024 Private Cloud Revenue of $1,055 million, down 13% Year-over-YearFourth Quarter Public Cloud Revenue of $417 million, down 4% Year-over-Year; 2024 Public Cloud Revenue of $1,683 million down 3% Year-over-YearFourth Quarter Cash Flow From Operating Activities of $54 million SAN ANTONIO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its fourth quarter and year ended December
SAN ANTONIO, Texas, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced that it will release its fourth quarter 2024 financial results after the market closes on Thursday, February 20, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (February 20, 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
Revenue of $676 million in the Third Quarter, down 8% Year-over-YearPrivate Cloud Revenue was $258 million, down 14% Year-over-YearPublic Cloud Revenue was $418 million, down 3% Year-over-YearThird Quarter 2024 Cash Flow From Operating Activities was $52 million SAN ANTONIO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, today announced results for its third quarter ended September 30, 2024. Amar Maletira, Chief Executive Officer, stated, "Our third-quarter results exceeded the midpoint of our guidance for revenue, operating profit, and EPS. Bookings grew double digits with Public Cloud postin
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
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
SAN ANTONIO, July 22, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT)— the leading end-to-end, hybrid multicloud, and AI solutions company, today announced that it will release its second quarter 2024 financial results after the market closes on Thursday, August 8, 2024. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (August 8, 2024) at 5:00 PM EDT to discuss the Company's financial results. Interested parties may access the conference call as follows:USA & Canada - Toll-Free (800) 715-9871International - Toll (646) 307-1963 Conference ID: 4653491 To listen to the live webcast or access
Revenue of $691 million in the First Quarter, down 9% Year-over-YearPrivate Cloud Revenue was $268 million, down 15% Year-over-YearPublic Cloud Revenue was $422 million, down 5% Year-over-YearFirst Quarter 2024 Cash Flow Used in Operating Activities was $(90) million which includes certain one-time fees related to the debt refinancing; Cash Flow From Operating Activities was $287 million on a Trailing-Twelve-Month Basis SAN ANTONIO, May 09, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, today announced results for its first quarter ended March 31, 2024. Amar Maletira, Chief Executive Officer, stated, "
SAN ANTONIO, April 24, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT)— the leading end-to-end, hybrid multicloud and AI technology solutions company, today announced that it will release its first quarter 2024 financial results after the market closes on Thursday, May 9, 2024. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 9, 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
SAN ANTONIO, May 28, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end, hybrid multicloud, and AI solutions company, today announced it has been recognized by Dell Technologies with two regional Global Alliances Partner of the Year Awards: 2025 Global Alliances EMEA Innovation Partner of the Year and 2025 Global Alliances Americas Marketing Partner of the Year. These honors reflect Rackspace's commitment to innovation, market leadership, and a strong global culture that puts customers at the center of everything. The awards underscore the strength of the long-standing collaboration between Rackspace Technology and Dell Technologies. Together, the compan
SAN ANTONIO, May 21, 2025 (GLOBE NEWSWIRE) -- Rubrik (NYSE:RBRK), a leading cyber resilience company, and Rackspace Technology (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, have announced Rackspace Cyber Recovery Service – a new managed service for customers operating in public cloud. By combining Rubrik's orchestrated data protection and cyber recovery solutions with Rackspace's DevOps principles and managed services, enterprises can simplify and accelerate recovery from ransomware attacks. Automated workflows deliver clean data and workloads through immutable backups, zero-trust architecture and Infrastructure as Code. With Rackspace Cyber Recovery Service, cr
SAN ANTONIO, May 15, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced the successful migration of the Housing Authority of the City of Austin's (HACA) technology infrastructure to Microsoft Azure and Microsoft 365, significantly improving operational resilience and business continuity while strengthening security. HACA is a public-sector entity that assists low-income families by providing essential housing services to vulnerable populations. HACA manages housing assistance, voucher programs, and resident services through portals and digital platforms. With approximately 240 staff members and numerous
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
SAN FRANCISCO, April 30, 2025 (GLOBE NEWSWIRE) -- LIVE! from RSAC, Rubrik (NYSE:RBRK), a leading cybersecurity company, and Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced a strategic partnership. The two companies will collaborate to deliver a fully managed isolated recovery service, Rackspace Cyber Recovery Cloud powered by Rubrik, to help enterprises achieve true cyber resilience and ensure business continuity in the event of a cyber attack. By combining Rubrik's data protection and cyber recovery software with Rackspace's hybrid cloud expertise and global data center footprint, this partnership addresses immediate cyber r
SAN ANTONIO, April 15, 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 first quarter 2025 financial results after the market closes on Thursday, May 8, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 8, 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.rackspace.com/news
SAN ANTONIO, April 10, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid and AI solutions company, today announced the launch of Rackspace OpenStack Flex, an Enterprise-ready, on-demand, shared cloud service providing secure and open Infrastructure-as-a-Service (IaaS). Rackspace OpenStack Flex service includes 24x7 expert support and fully monitored and maintained infrastructure to facilitate adoption and ongoing applications operations, helping to bridge the gap between dedicated and multi-tenant cloud solutions. "Rackspace OpenStack Flex makes managing workloads across the hybrid cloud landscape easier than ever. With our unified OpenStack-powered
SAN ANTONIO, March 25, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced Rackspace AI Business, a versatile, secure and high-performance AI-optimized hybrid cloud platform that targets customers with AI training and inferencing requirements to unlock the full potential of AI. In today's rapidly evolving business landscape, enterprises face unprecedented challenges in deploying and scaling their AI initiatives. The complexity of managing AI workloads across diverse environments, coupled with the need for specialized infrastructure and expertise, has become a significant barrier to realizing the full pot
SAN ANTONIO, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading provider of hybrid and AI technology solutions, today announced working with Domino's Pizza UK & Ireland Ltd. to enhance Domino's digital capabilities to support the company's growing store network through a robust hybrid cloud environment. Domino's Pizza UK & Ireland Ltd., the region's leading pizza delivery company, has redefined convenience and technology in the food delivery industry. As the master franchisee for the region, the company has transformed from a traditional takeaway business into a technology-driven enterprise, with most of its system sales flowing through digital channels and ne
Fourth Quarter Revenue of $686 million, down 5% Year-over-Year; 2024 Revenue of $2,737 million, down 7% Year-over-YearFourth Quarter Private Cloud Revenue of $269 million, down 6% Year-over-Year; 2024 Private Cloud Revenue of $1,055 million, down 13% Year-over-YearFourth Quarter Public Cloud Revenue of $417 million, down 4% Year-over-Year; 2024 Public Cloud Revenue of $1,683 million down 3% Year-over-YearFourth Quarter Cash Flow From Operating Activities of $54 million SAN ANTONIO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its fourth quarter and year ended December
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
TEL AVIV, Israel, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Radware® (NASDAQ:RDWR), a leading provider of cyber security and application delivery solutions, today announced that it has appointed Mr. Alex Pinchev to serve as an independent director of Radware's Board of Directors. Mr. Pinchev will serve as a member of the Board until the company's next annual meeting of shareholders when his appointment will be up to a shareholder vote. "Mr. Pinchev brings a wealth of experience to Radware's board," said Yuval Cohen, chairman of Radware's Board of Directors. "His proven track record in managing successful global businesses brings a valuable perspective to Radware's strategy as we remain focused
SAN ANTONIO, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Thomas Cole to the Board of Directors. Cole is an experienced finance executive with an illustrious 37-year career on Wall Street. "Tom brings a wealth of executive leadership and financial expertise to the Rackspace Board, making him a valuable addition," said Amar Maletira, Chief Executive Officer Rackspace Technology. "Tom's addition to our board will help further solidify our market position as the leading multicloud solutions company." With extensive experience in investment banking, Cole spent 11 years at
SAN ANTONIO, May 09, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Betsy Atkins and Tony Scott to its board of directors, effective June 16, 2023. Dhiren Fonseca, who has served on the board since 2016, will step down to focus on other commitments also effective June 16, 2023. "Betsy is a well-recognized expert on corporate governance with a wealth of executive leadership experience across a range of global companies and industries," said Amar Maletira, CEO, Rackspace Technology. Maletira added, "Tony's executive leadership and esteemed industry reputation as a CIO for mega-cap
SAN ANTONIO, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Anthony Roberts to its board of directors, effective as of January 30, 2023. Roberts is filling the board seat recently vacated by Tim Campos who stepped down due to his increase of time commitments related to his new role as Chief Information Officer at Apple. "I am thrilled to welcome Anthony to our Board of Directors. His extensive experience as a senior technology executive and board director, will be a tremendous asset as we further solidify our market position as the leading pureplay multicloud solutions c
SAN ANTONIO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) — a leading end-to-end, multicloud technology solutions company, today announced the appointment of Brian Lillie as President of Private Cloud business unit, effective January 23, 2023. Lillie's appointment completes the company's realignment as it begins executing its two-business unit operating model. Late last year, Rackspace tapped D K Sinha to lead its Public Cloud business unit. "I am thrilled to welcome Brian to Rackspace Technology," said Amar Maletira, CEO of Rackspace Technology. "Brian's thirty years of vast technology experience and proven track record coupled with his strategic thinking and exec
SAN ANTONIO, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) — a leading end-to-end, multicloud technology solutions company, today announced the appointment of Bobby Molu as Chief Financial Officer, effective January 16, 2023. Molu is filling the Rackspace Technology CFO role following the appointment of Amar Maletira to Chief Executive Officer in September 2022. "As we continue the transformation of Rackspace Technology, I am thrilled to welcome Bobby to the company. He is a seasoned finance executive with a solid track record of success," said Amar Maletira, CEO, of Rackspace Technology. "Bobby's global experience and a career spanning two decades in numerous fina
SAN ANTONIO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Shashank Samant as the Lead Director of its Board of Directors, effective as of November 9, 2022. Mr. Samant has substantial global technology services industry experience, with particular expertise in the software and digital products verticals. He has served on the Rackspace Technology board since October 19, 2021. "Shashank and I have known each other for many years. Over the past year, we have worked closely together on Rackspace Technology's strategy and operating model. I am pleased that I can no