Benzinga·2026-02-20 17:06Core Viewpoint - Rackspace Technology, Inc. is experiencing a rise in stock price following a strategic partnership with Palantir Technologies aimed at enhancing the deployment of Palantir's Foundry and Artificial Intelligence Platform [1][2] Group 1: Partnership Details - The partnership involves Rackspace hosting Palantir's software in its Private Cloud and UK Sovereign data centers, focusing on highly regulated industries that are cautious about public cloud solutions [2] - Rackspace currently employs 30 engineers trained in Palantir's technology and plans to increase this number to 250 within the next 12 months [2] Group 2: Stock Performance and Technical Analysis - Rackspace's stock is trading 112.1% above its 20-day Simple Moving Average (SMA) and 21.7% above its 100-day SMA, indicating a strong short-term performance alongside an improving intermediate trend [3] - Despite the recent rebound, shares have decreased by 57.47% over the past year, remaining closer to their 52-week low of $0.39 than their high of $3.03 [3] Group 3: Market Indicators - The Relative Strength Index (RSI) is at 70.05, suggesting the stock is in overbought territory, which may indicate a potential pullback or consolidation soon [4] - The Moving Average Convergence Divergence (MACD) shows a bullish signal, with the MACD line at -0.0089 above the signal line at -0.1002 [4] Group 4: Earnings and Financial Outlook - Rackspace is scheduled to report earnings on February 26 [4] - As of the latest data, Rackspace shares were up 42.00% at $1.73 [5] - Key resistance level is identified at $1.50, while key support is at $1.00 [5] - Earnings per share (EPS) is estimated to be a loss of $0.01, an improvement from a loss of $0.02 year-over-year [5] - Revenue estimate stands at $672.56 million, down from $685.60 million year-over-year [5]