Rackspace Technology Likely To Report Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Rackspace Technology, Inc. (NASDAQ:RXT) is anticipated to report a Q4 loss of 4 cents per share, contrasting with a profit of 6 cents per share a year ago. Expected revenue is $714.72 million, down from $787 million. The company recently appointed Mark Gross to its Board of Directors. Shares rose 3.5% to $2.10. Analyst ratings vary, with Citigroup and Barclays giving negative outlooks, while BMO Capital has a more neutral stance.
March 12, 2024 | 6:21 am
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NEGATIVE IMPACT
Rackspace Technology is projected to report a Q4 loss and a decrease in revenue, with mixed analyst ratings and a recent board appointment.
The expected Q4 loss and revenue decline indicate potential short-term negative impact on RXT's stock price. However, the recent board appointment and the mixed analyst ratings, especially the positive adjustment from BMO Capital, could provide some counterbalance. The overall negative outlook from analysts, with Citigroup and Barclays projecting lower price targets, suggests a bearish sentiment that could influence investor perception and stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100