Company sees FY 2026 revenue of $2.45 bln to $2.55 bln
Company expects FY 2026 Private Cloud revenue of $1.0 bln to $1.05 bln
Company forecasts FY 2026 Public Cloud revenue of $1.45 bln to $1.5 bln
Overview
Global enterprise AI solutions provider's Q2 revenue rose 1% yr/yr, beating analyst expectations
Private cloud revenue grew 5% yr/yr, while public cloud revenue declined 2% yr/yr
Company cited enterprise AI platform expansion and new product launches as drivers for Q2
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Rackspace Technology Inc is $5.00, about 2% above its August 7 closing price of $4.90
Result drivers and key details
PRIVATE CLOUD GROWTH - Co attributed 5% yr/yr private cloud revenue increase to expansion across installed base
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