Monday, March 1, 2021

Rackspace Technology Inc. [RXT] Revenue clocked in at $2.62 billion, up 9.81% YTD: What’s Next?

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Rackspace Technology Inc. [NASDAQ: RXT] price plunged by -16.15 percent to reach at -$4.03. The company report on February 19, 2021 that CORRECTING and REPLACING – Rackspace Technology Reports Fourth Quarter and Full Year 2020 Results.

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Please note this release is the corrected version to replace a release issued under the same headline earlier by Rackspace Technology, Inc. (Nasdaq: RXT). The corrected release follows:.


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Fourth Quarter Revenue of $716 million, up 14% Year-over-Year; 2020 Revenue of $2,707 million, up 11% Year-over-Year.

A sum of 10348547 shares traded at recent session while its average daily volume was at 1.58M shares. Rackspace Technology Inc. shares reached a high of $22.68 and dropped to a low of $20.77 until finishing in the latest session at $20.93.

The one-year RXT stock forecast points to a potential upside of 20.18. The average equity rating for RXT stock is currently 1.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Rackspace Technology Inc. [RXT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RXT shares is $26.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RXT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Rackspace Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 26, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on August 31, 2020, representing the official price target for Rackspace Technology Inc. stock. Previously, the target price had yet another raise to $28, while JP Morgan analysts kept a Overweight rating on RXT stock.

The Average True Range (ATR) for Rackspace Technology Inc. is set at 1.47, with the Price to Sales ratio for RXT stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 2.81, with the Price to Cash per share for the same quarter was set at 1.05.

RXT Stock Performance Analysis:

Rackspace Technology Inc. [RXT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.57. With this latest performance, RXT shares gained by 7.83% in over the last four-week period, additionally plugging by 14.25% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RXT stock in for the last two-week period is set at 44.39, with the RSI for the last a single of trading hit 37.97, and the three-weeks RSI is set at 47.91 for Rackspace Technology Inc. [RXT]. The present Moving Average for the last 50 days of trading for this stock 20.85, while it was recorded at 24.10 for the last single week of trading.

Insight into Rackspace Technology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Rackspace Technology Inc. [RXT] shares currently have an operating margin of +0.91 and a Gross Margin at +36.36. Rackspace Technology Inc.’s Net Margin is presently recorded at -9.08.

Return on Total Capital for RXT is now 0.46, given the latest momentum, and Return on Invested Capital for the company is -4.71. Return on Equity for this stock declined to -21.54, with Return on Assets sitting at -3.89. When it comes to the capital structure of this company, Rackspace Technology Inc. [RXT] has a Total Debt to Total Equity ratio set at 290.82. Additionally, RXT Total Debt to Total Capital is recorded at 74.41, with Total Debt to Total Assets ending up at 63.10. Long-Term Debt to Equity for the company is recorded at 279.66, with the Long-Term Debt to Total Capital now at 71.56.

Receivables Turnover for the company is 6.44 with a Total Asset Turnover recorded at a value of 0.43.Rackspace Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

RXT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RXT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rackspace Technology Inc. go to 63.39%.

Rackspace Technology Inc. [RXT] Insider Position Details

There are presently around $3,593 million, or 95.50% of RXT stock, in the hands of institutional investors. The top three institutional holders of RXT stocks are: APOLLO MANAGEMENT HOLDINGS, L.P. with ownership of 129,609,000, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; SEARCHLIGHT CAPITAL PARTNERS, L.P., holding 12,000,000 shares of the stock with an approximate value of $251.16 million in RXT stocks shares; and BOSTON PARTNERS, currently with $113.18 million in RXT stock with ownership of nearly 19.327% of the company’s market capitalization.

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Positions in Rackspace Technology Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 76 institutional holders increased their position in Rackspace Technology Inc. [NASDAQ:RXT] by around 20,695,752 shares. Additionally, 46 investors decreased positions by around 5,888,534 shares, while 19 investors held positions by with 145,075,963 shares. The mentioned changes placed institutional holdings at 171,660,249 shares, according to the latest SEC report filing. RXT stock had 35 new institutional investments in for a total of 13,200,032 shares, while 23 institutional investors sold positions of 2,657,324 shares during the same period.

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