Rackspace Hosting Reaches New 52-Week High (RAX)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Rackspace Hosting (NYSE: RAX) hit a new 52-week high Tuesday as it is currently trading at $77.28, above its previous 52-week high of $77.13 with 1.1 million shares traded as of 3:26 p.m. ET. Average volume has been 1.4 million shares over the past 30 days.

Rackspace Hosting has a market cap of $10.45 billion and is part of the technology sector and computer software & services industry. Shares are up 2.7% 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 106, above the S&P 500 P/E ratio of 17.7.

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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 good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Rackspace Hosting Ratings Report.

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