Rackspace Hosting ( RAX) pushed the Internet industry higher today making it today's featured internet winner. The industry as a whole closed the day up 1%. By the end of trading, Rackspace Hosting rose $3.15 (5.7%) to $58.44 on average volume. Throughout the day, 2.3 million shares of Rackspace Hosting exchanged hands as compared to its average daily volume of two million shares. The stock ranged in a price between $55.74-$58.74 after having opened the day at $55.94 as compared to the previous trading day's close of $55.29. Other companies within the Internet industry that increased today were: LookSmart ( LOOK), up 6.4%, Opentable ( OPEN), up 5.9%, Ancestry.com ( ACOM), up 5.2%, and Points International ( PCOM), up 5.1%. 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 $7.19 billion and is part of the technology sector. The company has a P/E ratio of 97.2, 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 28.6% year to date as of the close of trading on Wednesday. Currently there are eight analysts that rate Rackspace Hosting a buy, no analysts rate it a sell, and nine 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 robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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