Rackspace Technology Inc (NASDAQ: RXT): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. The stock was recently discussed on Yahoo Finance as it revealed that Rackspace Technology Participates in Google Cloud Next as a Signature Sponsor to Showcase the Company’s Google Cloud Offerings and Partnerships.

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Stocks Info

RXT belongs to the Technology sector of the NASDAQ while operating in the Software – Infrastructure industry. The current market capitalization of Rackspace Technology Inc is $398.19M. A total of 1.79 million shares were traded on the day, compared to an average of 1.45M shares.

In the most recent transaction, Maletira Amar sold 37,446 shares of RXT for 1.92 per share on Feb 20 ’24. After the transaction, the Chief Executive Officer now owns 4,638,423 company shares. In a previous transaction on Jan 25 ’24, Lillie Brian sold 139,701 shares at 1.62 per share. RXT shares that EVP, President Private Cloud owns now total 1,608,258.

Among the insiders who sold shares, Marino Mark A. disposed of 12,316 shares on Jan 25 ’24 at a per-share price of $1.62. This resulted in the Chief Financial Officer holding 248,101 shares of RXT after the transaction. In another insider transaction, Koushik Srini sold 9,782 shares at $1.74 per share on Dec 18 ’23. Company shares held by the Chief Technology Officer now total 793,367.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. In terms of 52-week highs and lows, RXT has a high of $3.10 and a low of $1.05.

As of this writing, RXT has an earnings estimate of -$0.13 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.13 per share and a lower estimate of -$0.14. The company reported an EPS of -$0.04 in the last quarter, which was 20.00% higher than expectations of -$0.05.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. RXT’s latest balance sheet shows that the firm has $272.80M in Cash & Short Term Investments as of fiscal 2021. There were $4.03B in debt and $837.40M in liabilities at the time. Its Book Value Per Share was -$0.71, while its Total Shareholder’s Equity was $1.33B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for RXT is Buy with a score of 2.57.

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