Rackspace Technology Inc (NASDAQ:RXT) price on Wednesday, February 05, rose 1.40% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.90.
A look at the stock’s price movement, the close in the last trading session was $2.86, moving within a range at $2.85 and $2.96. Turning to its 52-week performance, $3.41 and $1.45 were the 52-week high and 52-week low respectively. Overall, RXT moved 28.89% over the past month.
Rackspace Technology Inc’s market cap currently stands at around $659.95 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 674.85M for the company’s revenue for the quarter, with a low and high estimate of 674M and 675.2M respectively. The average forecast suggests down to a -6.23% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.73B, representing a -7.80% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RXT is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend RXT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RXT’s current price about 16.47% and 18.39% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.51, while 7-day volatility ratio is 8.78% and 7.72% in the 30-day chart. Further, Rackspace Technology Inc (RXT) has a beta value of 2.03, and an average true range (ATR) of 0.18. Analysts have given the company’s stock an average 52-week price target of $3.5, forecast between a low of $3.5 and high of $3.5. Looking at the price targets, the low is -20.69% off current price level while to achieve the yearly target high, price needs to move -20.69%. Nonetheless, investors will most likely welcome a -20.69% jump to $3.5 which is the analysts’ median price.
If we refocus on Rackspace Technology Inc (NASDAQ:RXT), historical trading data shows that trading volumes averaged 1.01 over the past 10 days and 912.36K over the past 3 months. The company’s latest data on shares outstanding shows there are 227.60 million shares.
The 73.98% of Rackspace Technology Inc’s shares are in the hands of company insiders while institutional holders own 17.07% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.32 million on 2025-01-15, giving us a short ratio of 5.74. The data shows that as of 2025-01-15 short interest in Rackspace Technology Inc (RXT) stood at 610.0 of shares outstanding, with shares short falling to 4.63 million registered in 2024-12-13. Current price change has pushed the stock 31.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RXT stock continues to rise going into the next quarter.
