Rackspace Tech's Earnings Outlook
Portfolio Pulse from Benzinga Insights
Rackspace Tech (NASDAQ:RXT) is scheduled to release its quarterly earnings report on March 12, 2024, with analysts expecting an EPS of $-0.04. The company's past earnings performance shows a mixed impact on its stock price, with the last quarter's beat resulting in a 1.79% drop. Shares are currently trading at $2.03, down 5.66% over the last year. Investors are looking for positive guidance for the next quarter.
March 11, 2024 | 2:01 pm
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Rackspace Tech is expected to report an EPS of $-0.04 for the upcoming quarter. Historical data shows mixed reactions to past earnings, with a slight drop after the last report despite beating estimates.
Given Rackspace Tech's mixed historical stock performance post-earnings, the short-term impact is uncertain. The focus will likely be on the company's future guidance rather than the EPS beat or miss. Historical data shows that even with an earnings beat, the stock price can react negatively if the future outlook is not positive. Therefore, the short-term impact is neutral until the earnings report and guidance are released.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100