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NEW YORK ( TheStreet) -- Rackspace Hosting (NYSE: RAX) hit a new 52-week high Tuesday as it is currently trading at $59.20, above its previous 52-week high of $59 with 675,744 shares traded as of 1:09 p.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 technology sector and computer software & services industry. Shares are up 35.6% year to date as of the close of trading on Monday. Rackspace Hosting, Inc. provides cloud computing services, managing Web-based IT systems for small and medium-sized businesses, and large enterprises worldwide. The company has a P/E ratio of 103.6, 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.