🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

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

Published 12/03/2024, 06:21
Updated 12/03/2024, 07:40
© Reuters.  Rackspace Technology Likely To Report Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
RXT
-

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Rackspace Technology, Inc. (NASDAQ: 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%.

Read This Next: Top 5 Risk Off Stocks That May Plunge This Quarter

Latest Ratings for RXT

DateFirmActionFromTo
Feb 2022RBC CapitalMaintainsOutperform
Feb 2022Credit SuisseMaintainsOutperform
Feb 2022CitigroupMaintainsBuy
View More Analyst Ratings for RXT

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.