Rackspace Hosting Stock Hits New 52-Week High (RAX)
NEW YORK (
) --
(NYSE:
) hit a new 52-week high Tuesday as it is currently trading at $53.16, above its previous 52-week high of $50.38 with 1.2 million shares traded as of 9:40 a.m. ET. Average volume has been 1.6 million shares over the past 30 days.
Rackspace Hosting has a market cap of $5.63 billion and is part of the
sector and
industry. Shares are up 14.5% year to date as of the close of trading on Monday.
Rackspace Hosting, Inc. operates in the hosting and cloud computing industry. It provides information technology (IT) as a service, managing Web-based IT systems for small and medium-sized businesses, as well as large enterprises worldwide. The company has a P/E ratio of 103.2, above the average computer software & services industry P/E ratio of 91.4 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Rackspace Hosting as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full
Rackspace Hosting Ratings Report
.
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