Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology (NASDAQ: RXT) has appointed Amar Maletira as the new CEO, effective immediately. Previously serving as President and CFO, Maletira is credited with shaping the company's strategic direction. The company's board believes his leadership will enhance the execution of its new strategy. Additionally, Rackspace anticipates third quarter 2022 revenues between $769-$779 million. Financial results will be disclosed in November, followed by a conference call for investors on September 26, 2022.

Rackspace Technology (NASDAQ: RXT) has implemented a private cloud managed services solution for Hoteles City, enhancing its infrastructure and guest experience. This partnership, ongoing for over seven years, enables Hoteles City to address evolving customer expectations in the hospitality sector with a focus on personalized experiences. The new VMware-based platform will allow the hotel chain to optimize operations and reliability. This move is critical as hospitality organizations increasingly leverage cloud technology to boost customer satisfaction.

Rackspace Technology (NASDAQ: RXT) has been recognized as a leader in cybersecurity solutions for midmarket customers by the ISG Provider Lens™ report. The report highlights Rackspace's integrated security solutions, which combine advanced in-house technology with superior threat detection and remediation capabilities. The evolution of the cybersecurity landscape has led enterprises to favor comprehensive managed services over fragmented solutions. As businesses reassess their security strategies amid growing cyber threats and digital transformation, Rackspace emphasizes its commitment to enhancing security for its clients through innovation.

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Rackspace Technology (NASDAQ: RXT) has launched the Rackspace Accelerated Migration Program (Rackspace AMP), a multi-million dollar initiative aimed at assisting customers in migrating their applications to private cloud environments. The program combines financial assistance with dedicated technical expertise, allowing organizations to improve cost efficiency and manage workloads effectively. This initiative reflects Rackspace's commitment to support customers' cloud journeys by providing access to skilled engineers for architecture development, migration planning, and lifecycle management.

Rackspace Technology (RXT) has facilitated the early adoption of AWS cloud services for Precia, a subsidiary of the Colombian Stock Exchange specializing in financial valuation solutions. Since 2014, Precia has opted for AWS due to its swift deployment capabilities. This partnership has led to improved response times and agility in addressing customer needs, establishing Precia as the first Colombian financial entity to migrate workloads to the cloud. This move is expected to enhance the stability of Colombia's financial system and position Precia competitively in its industry.

Rackspace Technology will showcase its cloud solutions at VMware Explore, from August 29 to September 1 at the Moscone Center in San Francisco. Attendees can explore Rackspace Elastic Engineering, enhancing cloud management, and demo the Data Freedom platform, which separates storage from public cloud compute. The company will also present Rackspace Services for VMware Cloud, promising increased agility for VMware workloads. Notable presentations include 'Creating Powerful Ecosystems' and 'So Much Infrastructure. So Little Time.'

Rackspace Technology (NASDAQ: RXT) announced the launch of the Beyond Clouds marketing campaign aimed at educating C-Level decision-makers about modernizing applications, data, and security solutions. The campaign aims to position Rackspace as a services-led, end-to-end, multicloud solutions provider. It will highlight advisory services and solutions such as Rackspace Elastic Engineering and will be promoted through digital platforms and events. The initiative emphasizes the company's role in assisting customers throughout their digital transformation journey.

On August 18, 2022, Rackspace Technology (NASDAQ: RXT) was recognized as a leader in the 2022 ISG Provider Lens – Microsoft Ecosystems Partners Quadrant Report U.S., highlighting its strength in managed Azure services. This recognition stems from Rackspace's robust customer relationships and innovative service offerings, including Rackspace Elastic Engineering. The report evaluates IT service providers based on key areas of the Microsoft ecosystem, providing enterprises with valuable insights to choose service partners effectively.