Rackspace Technology Likely To Report Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Rackspace Technology, Inc. RXT is expected to release earnings results for its fourth quarter, after the closing bell on March 12, 2024.

Analysts expect the San Antonio, Texas-based company to report a quarterly loss at 4 cents per share, versus a year-ago profit of 6 cents per share. Rackspace Technology is projected to report quarterly revenue of $714.72 million, compared to $787 million in the year-earlier quarter, according to data from Benzinga Pro.

On Feb. 8, Rackspace Technology announced the appointment of Mark Gross to its Board of Directors.

Rackspace Technology shares gained 3.5% to close at $2.10 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Ashwin Shirvaikar maintained a Sell rating and cut the price target from $1.5 to $1.25 on Nov. 20, 2023. This analyst has an accuracy rate of 74%.
• Barclays analyst Ramsey El-Assal maintained an Underweight rating and slashed the price target from $2 to $1 on Oct. 23, 2023. This analyst has an accuracy rate of 67%.
• BMO Capital analyst Keith Bachman maintained a Market Perform rating and raised the price target from $1.5 to $2.5 on Aug. 9, 2023. This analyst has an accuracy rate of 81%.

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