Rackspace Technology, Inc. operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications. Its Apps & Cross Platform segment includes managed applications; managed security services in the areas of security threat assessment and prevention, threat detection and response, rapid remediation, governance, and risk and compliance assistance across multiple cloud platforms, as well as privacy and data protection services, including detailed access restrictions and reporting and data services; and professional services related to designing and implementing application, security, and data services. The company serves financial, government, healthcare, manufacturing, non-profit, education, consumer goods, oil and gas, media and entertainment, automotive and transportation, food and beverage, travel and hospitality, retail, and public sectors, as well as SaaS and ISV clients. Rackspace Technology, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.
IPO Year: 2020
Exchange: NASDAQ
Website: rackspace.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/2/2025 | Outperform → Mkt Perform | Raymond James | |
| 11/7/2023 | $1.40 | Neutral | UBS |
| 9/19/2023 | $3.50 | Mkt Perform → Outperform | Raymond James |
| 7/25/2023 | $1.25 → $1.50 | Neutral → Sell | Citigroup |
| 10/11/2022 | $9.00 → $5.00 | Outperform → In-line | Evercore ISI |
| 8/16/2022 | $7.00 → $5.00 | Neutral → Underweight | JP Morgan |
| 8/11/2022 | $9.00 → $7.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 8/10/2022 | Outperform → Mkt Perform | William Blair | |
| 8/10/2022 | Outperform → Mkt Perform | Raymond James | |
| 7/15/2022 | $5.00 | Equal Weight → Underweight | Barclays |
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8-K - Rackspace Technology, Inc. (0001810019) (Filer)
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SCHEDULE 13G/A - Rackspace Technology, Inc. (0001810019) (Subject)
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Raymond James downgraded Rackspace Technology from Outperform to Mkt Perform
UBS initiated coverage of Rackspace Technology with a rating of Neutral and set a new price target of $1.40
Raymond James upgraded Rackspace Technology from Mkt Perform to Outperform and set a new price target of $3.50
Citigroup downgraded Rackspace Technology from Neutral to Sell and set a new price target of $1.50 from $1.25 previously
Evercore ISI downgraded Rackspace Technology from Outperform to In-line and set a new price target of $5.00 from $9.00 previously
JP Morgan downgraded Rackspace Technology from Neutral to Underweight and set a new price target of $5.00 from $7.00 previously
RBC Capital Mkts downgraded Rackspace Technology from Outperform to Sector Perform and set a new price target of $7.00 from $9.00 previously
William Blair downgraded Rackspace Technology from Outperform to Mkt Perform
Raymond James downgraded Rackspace Technology from Outperform to Mkt Perform
Barclays downgraded Rackspace Technology from Equal Weight to Underweight and set a new price target of $5.00
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LONDON, July 15, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, today announced it has received the UK Defence Employer Recognition Scheme (ERS) Gold Award, which recognises employers who have shown exceptional support to the armed forces community, including reservists, veterans and military families. Employers recognised have gone beyond the UK Armed Forces Covenant commitments to embed supportive employee policies, promote defence values and advocate for service personnel in the civilian workforce with policies that include: Paid leave for reservist training and mobilisationActive veteran recruitment and reten
SAN ANTONIO, July 14, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, today announced it has been named a leader in two categories across the United States and the United Kingdom in the 2026 ISG Provider Lens®, Private/Hybrid Cloud — Data Center Services Report: AI-ready Infrastructure Managed Services — MidmarketManaged Cloud Hosting and Resilient Infrastructure Services The recognition reflects Rackspace's growing momentum as enterprises seek trusted partners to operationalize AI, modernize infrastructure, and support governance, security, and compliance across private, hybrid, and sovereign cloud environments.
Investments and Partnerships to Fuel AI Growth in 2027 and Beyond Palantir names Rackspace Technology as a Preferred Partner in Regulated and Sovereign Markets SAN ANTONIO, July 09, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, today announced a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack. Strategy Update Rackspace is becoming the operator of the full enterprise AI stack, serving a demand now visible across the market. Enterprises, particularly in regulated industries, are seeking control over their compute, their models, and their data, and assura
SAN ANTONIO and MIAMI, July 09, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, and Palantir Technologies Inc. (NASDAQ:PLTR) today announced an operating model framework to help regulated and sovereign enterprises own and operate AI in production. The framework, delivered through Rackspace, combines Palantir Foundry and AIP with Rackspace’s governed private cloud, sovereign cloud, on-prem infrastructure, certified FDEs, and managed operations for customers that require control over data, security, governance, deployment location, and operational outcomes. The framework is built for markets such as healthcare system
SANTA CLARA, Calif. and SAN ANTONIO, June 16, 2026 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) and Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, today announced the signing of a definitive agreement for the phased deployment of an initial 30 MW footprint dedicated to AMD-based compute deployments across Rackspace's global data centers beginning in late 2026 through 2028. The agreement operationalizes the Memorandum of Understanding announced May 7, 2026, and establishes AMD as a strategic technology partner at the silicon layer of Rackspace's governed AI stack. At full deployment, 30 MW of dedicated AMD compute across Rackspace's footprint will
RIYADH, Saudi Arabia, June 08, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, today announced the establishment of its regional headquarters in Riyadh, Saudi Arabia, reinforcing the company's long-term commitment to the Kingdom of Saudi Arabia and the broader Middle East region. The new regional headquarters will serve as a strategic hub for Rackspace Technology's operations and customer engagement efforts, supporting organizations across enterprise, government, and regulated industries as they accelerate digital transformation initiatives aligned with Saudi Arabia's Vision 2030 agenda. The Riyadh office will be
Revenue of $678 million in the First Quarter, up 2% Year-over-YearPrivate Cloud Revenue was $235 million, down 6% Year-over-YearPublic Cloud Revenue was $443 million, up 7% Year-over-YearFirst Quarter 2026 Cash Flow From Operating Activities was $5 million; Cash Flow From Operating Activities was $144 million on a Trailing-Twelve-Month BasisRackspace Technology and AMD sign Memorandum of Understanding to establish a new category of governed Enterprise AI Infrastructure SAN ANTONIO, May 07, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced results for its first quarter ended March 31, 2026. Ga
SAN ANTONIO, May 07, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a global enterprise AI infrastructure and solutions provider, and AMD today announced the signing of a Memorandum of Understanding (MOU) establishing a framework for a multiyear strategic partnership to create an Enterprise AI Cloud purpose-built for regulated enterprises and sovereign workloads where security, governance, and accountability are non-negotiable. Today's dominant model requires enterprises to rent GPU capacity by the hour and carry the operational burden themselves including integration, security and accountability. This collaboration proposes to invert that model by integrating AMD Instinct™
SAN ANTONIO, April 16, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its first quarter 2026 financial results at 8:00 am ET on Thursday, May 7, 2026. Gajen Kandiah, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 7, 2026) at 8:30 am ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace.com/news-and-events
SAN ANTONIO, April 08, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced the appointments of Paul Soligon as Senior Vice President of Operations and Marco Tesini as Senior Vice President of International for the company's Private Cloud business unit. Soligon will be responsible for unifying key operational functions to drive growth and strengthen customer retention. In this role, he will lead Business and Sales Operations as well as Customer Success with a focus on advancing analytics and insights as well as elevating customer experience. Soligon brings extensive leadership experience from over 25 year
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SAN ANTONIO, April 08, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced the appointments of Paul Soligon as Senior Vice President of Operations and Marco Tesini as Senior Vice President of International for the company's Private Cloud business unit. Soligon will be responsible for unifying key operational functions to drive growth and strengthen customer retention. In this role, he will lead Business and Sales Operations as well as Customer Success with a focus on advancing analytics and insights as well as elevating customer experience. Soligon brings extensive leadership experience from over 25 year
SAN ANTONIO, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced the appointment of Joseph Vito as Senior Vice President of Strategic Alliance Partnerships. In this role, Vito will lead Rackspace's global strategy for building and strengthening technology and channel partnerships that drive innovation and deliver exceptional value to customers. Vito brings more than 25 years of experience in technology leadership, cloud transformation, and enterprise solutions across financial services, life sciences, energy, and consumer manufacturing. Most recently, he served as a Strategic Transformation Princ
SAN ANTONIO, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid, multicloud, and AI solutions company, today announced the appointment of Lata Varghese as Senior Vice President of Business Transformation and Phani Kishore Burre, as Senior Vice President of Services and Delivery for the Public Cloud business unit. Lata Varghese brings extensive leadership experience in technology services, CXO advisory and business transformation. At Cognizant, she managed global P&L responsibilities and spearheaded the incubation and growth of emerging technology consulting practices. Her domain expertise spans financial services, digital banking, payments, b
Introduces Eight-Member Slate with Deep Experience in Governance, Finance, Legislative and Regulatory Affairs, Strategic Transformations, Transportation and the Railroad Sector Proposes Jim Barber, a Proven Transportation Network Leader and Former Executive at UPS, as CEO and Jamie Boychuk, a Career Railroader and Former Executive at CSX, as COO Introduces "Network of the Future" Strategy Offering Path to Significant Value Creation Releases Presentation Entitled "The Case for Leadership, Safety and Strategy Changes at Norfolk Southern" That is Downloadable at www.MoveNSCForward.com Ohio-based Ancora Holdings Group, LLC, its affiliates and the other participants in its solicitation (
SAN ANTONIO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid, multicloud technology solutions company, today announced the appointment of Mark Gross to its Board of Directors. Gross is an experienced and dynamic leader with over 25 years of broad-based experience, financial expertise, and deep insight into leading business transformations. Gross succeeds Thomas Cole, who unexpectedly passed away over the recent holiday season. "We were fortunate to find Mark, a seasoned executive with financial expertise and broad business experience to complement our current Board. We look forward to his guidance, helping to further solidify our market po
SAN ANTONIO, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end, hybrid multicloud technology solutions company, today announced the appointment of Mark Marino as Chief Financial Officer (CFO), effective immediately. Marino previously served as the Company's Chief Accounting Officer and succeeds Naushaza "Bobby" Molu. Molu resigned his position to pursue a new opportunity in the UK, where he resides. He will remain with Rackspace Technology in an advisory role through late February to ensure a seamless transition. "I am delighted to welcome Mark as our CFO," said Amar Maletira, Chief Executive Officer. "Having worked with Mark since I joined Rackspa
TEL AVIV, Israel, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Radware® (NASDAQ:RDWR), a leading provider of cyber security and application delivery solutions, today announced that it has appointed Mr. Alex Pinchev to serve as an independent director of Radware's Board of Directors. Mr. Pinchev will serve as a member of the Board until the company's next annual meeting of shareholders when his appointment will be up to a shareholder vote. "Mr. Pinchev brings a wealth of experience to Radware's board," said Yuval Cohen, chairman of Radware's Board of Directors. "His proven track record in managing successful global businesses brings a valuable perspective to Radware's strategy as we remain focused
SAN ANTONIO, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Thomas Cole to the Board of Directors. Cole is an experienced finance executive with an illustrious 37-year career on Wall Street. "Tom brings a wealth of executive leadership and financial expertise to the Rackspace Board, making him a valuable addition," said Amar Maletira, Chief Executive Officer Rackspace Technology. "Tom's addition to our board will help further solidify our market position as the leading multicloud solutions company." With extensive experience in investment banking, Cole spent 11 years at
SAN ANTONIO, May 09, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Betsy Atkins and Tony Scott to its board of directors, effective June 16, 2023. Dhiren Fonseca, who has served on the board since 2016, will step down to focus on other commitments also effective June 16, 2023. "Betsy is a well-recognized expert on corporate governance with a wealth of executive leadership experience across a range of global companies and industries," said Amar Maletira, CEO, Rackspace Technology. Maletira added, "Tony's executive leadership and esteemed industry reputation as a CIO for mega-cap
SAN ANTONIO, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Anthony Roberts to its board of directors, effective as of January 30, 2023. Roberts is filling the board seat recently vacated by Tim Campos who stepped down due to his increase of time commitments related to his new role as Chief Information Officer at Apple. "I am thrilled to welcome Anthony to our Board of Directors. His extensive experience as a senior technology executive and board director, will be a tremendous asset as we further solidify our market position as the leading pureplay multicloud solutions c
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Revenue of $678 million in the First Quarter, up 2% Year-over-YearPrivate Cloud Revenue was $235 million, down 6% Year-over-YearPublic Cloud Revenue was $443 million, up 7% Year-over-YearFirst Quarter 2026 Cash Flow From Operating Activities was $5 million; Cash Flow From Operating Activities was $144 million on a Trailing-Twelve-Month BasisRackspace Technology and AMD sign Memorandum of Understanding to establish a new category of governed Enterprise AI Infrastructure SAN ANTONIO, May 07, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced results for its first quarter ended March 31, 2026. Ga
SAN ANTONIO, April 16, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its first quarter 2026 financial results at 8:00 am ET on Thursday, May 7, 2026. Gajen Kandiah, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 7, 2026) at 8:30 am ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace.com/news-and-events
Fourth Quarter Revenue of $683 million, down 0.4% Year-over-Year; 2025 Revenue of $2,686 million, down 2% Year-over-YearFourth Quarter Private Cloud Revenue of $241 million, down 10% Year-over-Year; 2025 Private Cloud Revenue of $990 million, down 6% Year-over-YearFourth Quarter Public Cloud Revenue of $442 million, up 6% Year-over-Year; 2025 Public Cloud Revenue of $1,696 million up 1% Year-over-YearFourth Quarter Cash Flow From Operating Activities of $60 million; 2025 Cash Flow From Operating Activities of $151 million SAN ANTONIO, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announc
SAN ANTONIO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its fourth quarter 2025 financial results at 8 am ET on Thursday, February 26, 2026. Gajen Kandiah, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (February 26, 2026) at 8:30 am ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace.com/news-a
Revenue of $671 million in the Third Quarter, down 1% Year-over-YearPrivate Cloud Revenue was $250 million, down 3% Year-over-YearPublic Cloud Revenue was $422 million, up 1% Year-over-YearThird Quarter 2025 Cash Flow From Operating Activities was $71 million; Cash Flow From Operating Activities was $146 million on a Trailing-Twelve-Month Basis SAN ANTONIO, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced results for its third quarter ended September 30, 2025. Gajen Kandiah, Chief Executive Officer, stated, "We delivered third quarter results at or above expectations, generated stron
SAN ANTONIO, Oct. 17, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its third quarter 2025 financial results after the market closes on Thursday, November 6th, 2025. Gajen Kandiah, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (November 6, 2025) at 5:00 PM ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspac
Revenue of $666 million in the Second Quarter, down 3% Year-over-YearPrivate Cloud Revenue was $250 million, down 4% Year-over-YearPublic Cloud Revenue was $417 million, down 2% Year-over-YearSecond Quarter 2025 Cash Flow From Operating Activities was $8 million; Cash Flow From Operating Activities was $127 million on a Trailing-Twelve-Month Basis SAN ANTONIO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its second quarter ended June 30, 2025. Amar Maletira, Chief Executive Officer, stated, "I am pleased with our second quarter results. Revenue and operating profit excee
SAN ANTONIO, July 18, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its second quarter 2025 financial results after the market closes on Thursday, August 7, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (August 7, 2025) at 5:00 PM ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.r
Revenue of $665 million in the First Quarter, down 4% Year-over-YearPrivate Cloud Revenue was $250 million, down 7% Year-over-YearPublic Cloud Revenue was $416 million, down 2% Year-over-YearFirst Quarter 2025 Cash Flow From Operating Activities was $13 million; Cash Flow From Operating Activities was $143 million on a Trailing-Twelve-Month Basis SAN ANTONIO, May 08, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ:RXT), a leading end-to-end, hybrid cloud and AI solutions company, today announced results for its first quarter ended March 31, 2025. Amar Maletira, Chief Executive Officer, stated, "Results in the first quarter of 2025 exceeded our expectations across all key metr
SAN ANTONIO, April 15, 2025 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid cloud and AI solutions company, today announced that it will release its first quarter 2025 financial results after the market closes on Thursday, May 8, 2025. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 8, 2025) at 5:00 PM ET to discuss the Company's financial results. Interested parties may access the conference call as follows: To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://ir.rackspace.com/news
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