RXT Stock Recent News

SAN ANTONIO, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT) — a leading end-to end, hybrid multicloud technology solutions company, today announced that it will release its third quarter 2023 financial results after the market closes on Tuesday, November 7, 2023. Amar Maletira, Chief Executive Officer, and Bobby Molu, Chief Financial Officer, will host a conference call on the day of the release (November 7, 2023) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology, Inc. operates in a promising market with a large and growing multi-cloud TAM. The company's Public Cloud business is currently facing a decline, which raises concerns about its performance in this specific sector. The stock trades at a discount to leading IT services peers, which I believe is warranted in the near term.

While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.

Cloud computing undergirds, in one way or another, everyone's digital life. Whether you are accessing a piece of content on a video streaming platform or uploading documents for work, you are interacting with a network of cloud servers.

In the current financial landscape, the stock market sees traders vigilantly seeking opportunities to gain an edge. Frequent fluctuations have made analyst insights an invaluable tool for understanding everything from cost-effective penny stocks to more expensive equity shares.

Rackspace (RXT) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $0.17 per share a year ago.

In today's stock market, traders are on a constant search for any advantage they can find. With fluctuations becoming the norm, one asset in dealing with everything from affordable penny stocks to pricier shares is analyst sentiment.

SAN ANTONIO, July 24, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ®  (NASDAQ: RXT)— a leading end-to end, multicloud technology solutions company, today announced that it will release its second quarter 2023 financial results after the market closes on Tuesday, August 8, 2023. Amar Maletira, Chief Executive Officer, and Bobby Molu, Chief Financial Officer, will host a conference call on the day of the release (August 8, 2023) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology, Inc. provides organizations with an array of Public and Private Cloud services. The firm will likely produce top line revenue contraction in 2023, but management says Q2's operating results will be the "trough" before a better second half of 2023. Leadership will need to prove its restructuring and ability to grow revenue and eliminate operating losses.

A strategic shift toward artificial intelligence (AI) gave the cloud computing firm's shares a serious boost in June 2023. Rackspace's AI moves include a new AI unit and a partnership with Google Cloud.