Rackspace Technology establishes regional headquarters in Saudi Arabia
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
0mins
Source: Businesswire
Rackspace Technology Inc. saw a significant price increase of 21.03% as it crossed above its 5-day SMA, despite the broader market decline with the Nasdaq-100 down 0.72% and the S&P 500 down 0.53%.
The core catalyst for this movement is the establishment of Rackspace's regional headquarters in Riyadh, Saudi Arabia. This strategic move is aimed at accelerating cloud adoption across the Gulf Cooperation Council (GCC) and enhancing localized services, which is expected to drive economic growth in the region. The company is also focusing on strengthening its talent investment and strategic partnerships to align with Saudi Arabia's Vision 2030.
This expansion not only positions Rackspace closer to its customers but also reinforces its commitment to the Middle East, which could lead to increased revenue opportunities and a stronger market presence in the region.
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Analyst Views on RXT
Wall Street analysts forecast RXT stock price to fall
3 Analyst Rating
0 Buy
3 Hold
0 Sell
Hold
Current: 7.530
Low
1.30
Averages
1.48
High
1.75
Current: 7.530
Low
1.30
Averages
1.48
High
1.75
About RXT
Rackspace Technology, Inc. is an end-to-end hybrid, hybrid cloud, and artificial intelligence (AI) solutions company. The Company designs, builds, and operates its customers’ cloud environments across all technology platforms, irrespective of technology stack or deployment model. The Company operates through two segments. Its Public Cloud segment is a service-centric, capital-light model providing value-added cloud solutions through managed services, elastic engineering and professional services offerings for customer environments hosted on the Amazon Web Services (AWS), Microsoft Azure and Google Cloud public cloud platforms. Its Private Cloud segment is a technology-forward, capital-intensive model providing managed service offerings for customer environments hosted in one of its data centers as well as in those owned by customers or by third parties. Private Cloud product portfolio includes Programmatic Infrastructure, Cloud Operating Systems, Platform-as-a-Service, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
