Rackspace Technology (RXT) Stock: Why Its Trending Today

By Amit Chowdhry ● Feb 23, 2022
  • The Rackspace Technology, Inc. (NASDAQ: RXT) stock is trending today. This is why.

The Rackspace Technology, Inc. (NASDAQ: RXT) stock is trending today. And the company stock price dropped over 16% during intraday trading.

Investors appear to be responding negatively to the guidance revealed in the company’s fourth-quarter results. Rackspace Technology reported a Q4 EPS of $0.25, which was $0.01 better than the analyst estimates of $0.24. And the revenue for the quarter was $777 million compared to the consensus estimate of $771.22 million.

In terms of guidance, Rackspace expects Q1 2022 EPS of $0.20-$0.22, compared to the consensus of $0.26. And Rackspace expects Q1 2022 revenue of $768-778 million, compared to the consensus of $789.5 million.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.