Rackspace Technology (RXT) Announces Refinancing Transactions

Rackspace Technology Inc. (RXT) PT Lowered to $3 at Raymond James

Raymond James analyst Frank Louthan lowered the price target on Rackspace Technology Inc. (NASDAQ: RXT) to $3.00 (from $3.50) while maintaining a Outperform rating.

The analyst comments "We are lowering our price target to $3 (from $3.50) based on ~8.5x 2024E EV/EBITDA. Rackspace is... More

Rackspace Technology Inc. (RXT) PT Raised to $2.50 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on Rackspace Technology Inc. (NASDAQ: RXT) to $2.50 (from $1.50) while maintaining a Market Perform rating.

The analyst comments "Rackspace results continued to be pressured by a weak services environment combined with an internal transformation.... More

Rackspace Technology Inc. (RXT) PT Lowered to $2 at Evercore ISI, 'Improved Bookings and Liquidity Profile As We Await Topline Resumption'

Evercore ISI analyst Amit Daryanani lowered the price target on Rackspace Technology Inc. (NASDAQ: RXT) to $2.00 (from $3.00) while maintaining a In Line rating.

The analyst comments " RXT reported at the high end of its guidance and above Street for Sep-qtr results with revenue/EPS of $719M/($0.03) vs. street at $715M/($0.04). Segment dynamics came in largely as expected with continued y/y declines (down ~13.8% q/q) in Private Cloud (runoff from customers... More

Rackspace Technology (RXT) Tops Q4 EPS by 1c, Guidance Misses

Rackspace Technology (NASDAQ: RXT) reported Q4 EPS of ($0.03), $0.01 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $720 million versus the consensus estimate of $715.64 million.

GUIDANCE:

Rackspace Technology sees Q1 2024 revenue of $680-690 million, versus the consensus of $709.2 million.

Financial... More