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Rackspace Technology, Inc. - RXT STOCK NEWS

Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.

Overview

Rackspace Technology, Inc. is a premier managed cloud and hybrid IT services company designed to simplify the complexities of modern cloud computing. With a robust portfolio that spans hybrid, multicloud, and AI-driven solutions, the company partners with organizations to design, build, and operate their cloud environments across all major technology platforms. Leveraging deep expertise in open-source initiatives and close collaboration with industry giants, Rackspace delivers customized solutions that address the technical, operational, and security challenges associated with diverse IT infrastructures.

Core Services and Business Model

At its essence, Rackspace Technology is dedicated to enabling organizations to tap into the power of cloud computing without the burden of managing intricate IT systems. The company generates revenue mainly through consumption-based contracts and professional services, helping customers move, manage, and optimize their cloud environments. Its integrated service model encompasses:

  • Application Services: Delivering custom solutions to modernize and streamline applications.
  • Data and Analytics: Offering strategic data management and insight generation to empower decision-making.
  • Cloud and Managed Hosting: Providing end-to-end support for both public and private cloud deployments.
  • Security and Compliance: Ensuring that sensitive data and applications meet stringent industry standards.
  • Professional Services: Delivering expert consulting and implementing tailored IT transformations.

Market Position and Competitive Differentiation

Rackspace Technology occupies a unique position in the IT industry by combining deep technical expertise with a customer-centric approach. Its ability to manage hybrid and multicloud environments allows it to serve a diverse clientele—from SMBs seeking cost-effective solutions to global enterprises requiring high levels of operational resilience and security. What sets Rackspace apart is its commitment to "fanatical support," an approach that delivers high-touch managed services while addressing both immediate and long-term infrastructure challenges. The company’s strategic emphasis on open-source cloud management, demonstrated through its leadership in OpenStack deployments and innovative cloud optimization practices, further establishes its authoritativeness in the industry.

Service Excellence and Industry Expertise

Rackspace’s service offerings are grounded in over a decade of operational expertise, contributing millions of lines of code to open-source projects and managing large-scale cloud deployments for critical applications. The company’s ability to optimize cloud spending, as evidenced by its work with organizations in sectors as varied as healthcare, ecommerce, and advanced technology research, highlights its proficiency in delivering both cost savings and enhanced performance. By seamlessly integrating technologies from leading partners such as Microsoft, VMware, and AWS, Rackspace enables customers to transition smoothly to cloud environments without being locked into a single technology stack. This flexibility and its extensive experience in managing complex cloud ecosystems have positioned Rackspace as a trusted collaborator in digital transformation initiatives across the globe.

Operational Model and Customer-Centric Approach

At the heart of Rackspace’s operations is an unwavering focus on customer outcomes. Its service model is built on a foundation of transparency, proactive cost optimization, and continuous innovation. Whether it is through the deployment of GPU-as-a-service (GPUaaS) for high-performance workloads or the implementation of specialized frameworks to enhance security and compliance, Rackspace tailors its solutions to meet specific industry needs. The company’s comprehensive approach not only reduces the burden on internal IT teams but also enables organizations to focus on their core business objectives, thereby driving operational efficiency and unlocking new opportunities for growth.

Technical Innovation and Integration

Emphasizing an integrated technology approach, Rackspace Technology addresses the full spectrum of IT requirements by providing scalable and versatile cloud solutions. The use of advanced automation tools, Infrastructure-as-Code (IaC), and proactive monitoring ensures that clients receive continuous, optimized performance across diverse cloud environments. Additionally, its contributions to the open-source community underscore a broader commitment to collaborative innovation, helping to shape industry standards and best practices. This dedication to technical excellence reinforces Rackspace’s role as both a technology innovator and an indispensable partner for businesses navigating the digital landscape.

Conclusion

In summary, Rackspace Technology, Inc. is more than just a cloud service provider—it is a multifaceted IT solutions partner that combines technical sophistication with practical, customer-focused solutions. By managing hybrid, multicloud, and AI-powered environments with precision and reliability, the company stands as a critical enabler for businesses looking to modernize their IT infrastructure and achieve sustainable operational excellence. For investors and stakeholders seeking a deep and nuanced understanding of the cloud services arena, Rackspace represents a case study in the efficient management of technology complexities and the delivery of end-to-end value.

Rhea-AI Summary

Rackspace Technology (RXT) announced that its Chief Product Officer, Josh Prewitt, will engage in a fireside chat with McGraw Hill Education's CTO, Andrew Lippert, at the Apex National Cloud & Cloud Security Transformation Virtual Summit on December 16, 2021. The event aims to address critical technology challenges facing CIOs from Fortune 500 and Global 2000 companies as they navigate cloud and security transformations. The collaboration features prominent industry leaders, including sponsors BitSight, Red Hat, and Intel.

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Rackspace Technology (NASDAQ: RXT) announced significant advancements in its partnership with Amazon Web Services (AWS) through various customer transformations and new designations. The company achieved 15 AWS Partner competency designations and over 2,700 AWS Certifications. A highlighted success story includes Awaze, which reduced web session costs by 30% after migrating to AWS. Rackspace also received Amazon Quicksight Service Delivery designation and AWS Shield Advanced certification, bolstering its cloud security offerings. Additionally, Rackspace will participate in AWS re:Invent 2021 as a Gold Sponsor.

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Rackspace Technology (NASDAQ: RXT) has been honored as the 2021 AWS Migration Partner of the Year (NSI) – US. This recognition highlights the company’s extensive expertise in assisting customers with their digital transformations and cloud migrations. With 15 AWS competencies and over 2,700 certifications, Rackspace plays a crucial role in the AWS Migration Acceleration Program, driving significant projects in the US. The company has previously received similar accolades for its services in Canada and the UK, reinforcing its reputation as a leader in multicloud technology solutions.

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Rackspace Technology (NASDAQ: RXT) was awarded the 2020 Google Cloud Breakthrough North America Partner of the Year for successful IT migrations to Google Cloud. The company assisted clients like GoHenry, which doubled its customer base to one million after migrating 99% of its services, and Mrs. T’s Pierogies, which achieved a 60% acceleration in transactions. Additionally, Eagle Eye AIR's migration led to a 30% improvement in transaction speed. Rackspace highlights its commitment to driving innovative solutions and growth for its customers through strategic partnerships with Google Cloud.

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Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering for VMware, a new service designed to support cloud transformation. This offering aims to enhance orchestration, automation, and tooling for VMware multi-cloud computing. It helps organizations overcome challenges like the IT skills gap and limited partner support. Customers can benefit from flexible operational costs, on-demand expert access, and a dedicated team tailored to their needs. This initiative is part of Rackspace's broader Elastic Engineering solutions portfolio.

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Rackspace Technology (RXT) reported record revenue of $763 million for Q3 2021, marking a 12% increase year-over-year. Core revenue grew 15% to $718 million. The company experienced a net loss of $(35) million, or $(0.17) per diluted share, an improvement from last year's net loss of $(101) million. Non-GAAP EPS rose 32% to $0.25. Operating cash flow reached $102 million. Despite a 36% decline in bookings to $200 million, Rackspace anticipates achieving its $1 billion bookings target for fiscal 2021. Financial guidance for Q4 indicates revenue between $766 million and $776 million.

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Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG) for the third quarter of 2021. The company ranked among leaders in the Breakthrough 15 category based on annual contract value (ACV) won over the past year. This acknowledgment reflects Rackspace's strong market position in multicloud technology solutions, which includes infrastructure as a service (IaaS) and software as a service (SaaS). ISG's Index is a comprehensive source for global technology market data.

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Rackspace Technology (NASDAQ: RXT) supports Awaze, Europe's leading managed vacation rentals group, in achieving remarkable growth during a record year. The transition to Amazon Web Services (AWS) has allowed Awaze to handle unprecedented traffic surges, especially following UK's easing of lockdowns. Their investment has led to a 30% reduction in web session costs. With auto-scaling capabilities, Awaze can efficiently manage fluctuating demand, enhancing user experience. The ongoing migration to cloud services promises flexibility and scalability, positioning Awaze for further growth.

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FAQ

What is the current stock price of Rackspace Technology (RXT)?

The current stock price of Rackspace Technology (RXT) is $1.67 as of April 1, 2025.

What is the market cap of Rackspace Technology (RXT)?

The market cap of Rackspace Technology (RXT) is approximately 399.9M.

What core services does Rackspace Technology provide?

Rackspace Technology offers end-to-end cloud solutions, including managed hosting, hybrid and multicloud services, application modernization, and professional IT consulting. Their offerings also encompass security, compliance, and cost optimization services.

How does Rackspace Technology help businesses manage their IT infrastructure?

By designing, building, and operating cloud environments across any technology stack or deployment model, Rackspace reduces the complexity of managing IT infrastructure. They provide tailored managed services, proactive monitoring, and expert consulting to ensure optimal performance.

What distinguishes Rackspace Technology from other cloud service providers?

Rackspace differentiates itself through its customer-centric "fanatical support," deep technical expertise, and a flexible approach to hybrid and multicloud environments. Their strong focus on open-source technology and customized solutions helps address diverse business needs.

Which industries benefit from Rackspace Technology's solutions?

A wide range of industries—from healthcare and finance to ecommerce and data research—benefit from Rackspace's expertise. The company’s services are designed to support both small and medium-sized businesses as well as large global enterprises.

How does Rackspace Technology generate revenue?

The company earns revenue through consumption-based contracts and professional service engagements. Their model is built around delivering customized IT solutions and managed services that align with the specific needs of each customer.

What role does open-source technology play in Rackspace's offerings?

Rackspace has a long-standing commitment to open-source innovation, contributing significantly to projects like OpenStack. This dedication ensures their cloud solutions are flexible, scalable, and continuously evolving with industry standards.

How does Rackspace support cost optimization for its clients?

Through a combination of strategic planning, proactive monitoring, and tailored cloud management techniques, Rackspace helps clients identify and implement cost-saving measures. Their services focus on optimizing resource allocation and minimizing unnecessary infrastructure expenses.

What can investors learn about Rackspace Technology's market position?

Investors can appreciate Rackspace's role as an essential IT solutions partner that has built a reputation for managing complex cloud environments effectively. Its strong emphasis on technical excellence, diverse service portfolio, and commitment to customer outcomes positions it uniquely within a competitive market.
Rackspace Technology, Inc.

Nasdaq:RXT

RXT Rankings

RXT Stock Data

399.86M
82.48M
2.16%
83.12%
1.32%
Software - Infrastructure
Services-computer Programming, Data Processing, Etc.
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United States
SAN ANTONIO