Rackspace Technology, Inc. RXT is set to unveil its fourth-quarter earnings report after markets close on March 12, 2024.
Industry experts anticipate a quarterly loss of 4 cents per share for the San Antonio, Texas-based firm, a stark contrast to the 6 cents per share profit from the same period a year ago. Revenue projections stand at $714.72 million for the quarter, down from $787 million in the corresponding quarter of the previous year, as reported by industry insights platform, Benzinga Pro.
In an organizational update on February 8, Rackspace Technology announced the appointment of Mark Gross to its Board of Directors.
Traded shares of Rackspace Technology climbed by 3.5% to close at $2.10 at the end of trading on Monday.
Readers can find up-to-date analyst ratings on the Analyst Stock Ratings page on Benzinga. The rating methodology includes filtering options based on stock ticker, company name, analyst firm, rating change, and other pertinent variables.
Take a glimpse into how the most accurate analysts at Benzinga have recently evaluated the company.
- Citigroup analyst Ashwin Shirvaikar maintained a Sell rating but adjusted the price target from $1.5 to $1.25 on November 20, 2023, boasting an impressive accuracy rate of 74%.
- Barclays analyst Ramsey El-Assal sustained an Underweight rating and decreased the price target from $2 to $1 on October 23, 2023, with a robust accuracy rate of 67%.
- BMO Capital analyst Keith Bachman maintained a Market Perform rating and upped the price target from $1.5 to $2.5 on August 9, 2023, demonstrating a notable accuracy rate of 81%.
Stay tuned for more financial insights and market analysis as the industry dynamics unfold.
Explore informative pieces such as Top 5 Risk Off Stocks That May Plunge This Quarter for further investment considerations.
