Rackspace Technology Inc (NASDAQ:RXT) price on Friday, May 10, rose 2.69% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.01.
A look at the stock’s price movement, the level at last check in today’s session was $1.96. Turning to its 52-week performance, $3.10 and $1.05 were the 52-week high and 52-week low respectively. Overall, RXT moved 19.10% over the past month.
Rackspace Technology Inc’s market cap currently stands at around $450.12 million.
Analysts have a consensus estimate of 684.25M for the company’s revenue for the quarter, with a low and high estimate of 682.3M and 685.2M respectively. The average forecast suggests down to a -9.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.75B, representing a -6.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RXT is a 50% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
RXT’s current price about 17.90% and 15.62% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.81, while 7-day volatility ratio is 5.01% and 5.93% in the 30-day chart. Further, Rackspace Technology Inc (RXT) has a beta value of 1.87, and an average true range (ATR) of 0.12.
If we refocus on Rackspace Technology Inc (NASDAQ:RXT), historical trading data shows that trading volumes averaged 1.36 million over the past 3 months. The company’s latest data on shares outstanding shows there are 217.40 million shares.
The 76.77% of Rackspace Technology Inc’s shares are in the hands of company insiders while institutional holders own 20.43% of the company’s shares. Current price change has pushed the stock 0.64% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RXT stock continues to rise going into the next quarter.
