Rackspace Hosting Inc. (RAX): Today's Featured Technology Winner

Rackspace Hosting (RAX) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 1.3%. By the end of trading, Rackspace Hosting rose $3.22 (7.1%) to $48.47 on average volume. Throughout the day, 3.6 million shares of Rackspace Hosting exchanged hands as compared to its average daily volume of 2.5 million shares. The stock ranged in a price between $44.84-$48.75 after having opened the day at $45.20 as compared to the previous trading day's close of $45.25. Other companies within the Technology sector that increased today were: Webmedia Brands (WEBM), up 21.1%, Recon Technology (RCON), up 20.7%, NII Holdings (NIHD), up 18.8%, and Changyou.com (CYOU), up 18.7%.

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Rackspace Hosting, Inc. provides cloud computing services, managing Web-based IT systems for small and medium-sized businesses, and large enterprises worldwide. Rackspace Hosting has a market cap of $5.8 billion and is part of the computer software & services industry. The company has a P/E ratio of 69.2, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 0.4% year to date as of the close of trading on Friday. Currently there are seven analysts that rate Rackspace Hosting a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Rackspace Hosting as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

• You can view the full Rackspace Hosting Ratings Report.

On the negative front, Radcom (RDCM), down 13.2%, Spire Corporation (SPIR), down 11.6%, Dataram Corporation (DRAM), down 10.6%, and SMART Technologies (SMT), down 9.7%, were all laggards within the technology sector with ASML (ASML) being today's technology sector laggard.

• Use our technology section to find sector-relevant news.
• Or find some new ideas from our top rated stocks lists.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR (XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology (REW).

• Find other investment ideas from our top rated ETFs lists.

For more information on Rackspace Hosting Inc. click any of the following:

• Rackspace Hosting Inc. Stock Price

• Rackspace Hosting Inc. Analyst Ratings

• Rackspace Hosting Inc. Key Stats & Profile

• Rackspace Hosting Inc. Earnings

• Rackspace Hosting Inc. Ratio Comparison

• Rackspace Hosting Inc. Growth Rates

• Rackspace Hosting Inc. Balance Sheet

• Rackspace Hosting Inc. Cash Flow

• Rackspace Hosting Inc. Income Statement