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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 Thursday as it is currently trading at $80.03, above its previous 52-week high of $78.62 with 159,142 shares traded as of 9:41 a.m. ET. Average volume has been 1.3 million shares over the past 30 days. Rackspace Hosting has a market cap of $10.48 billion and is part of the technology sector and computer software & services industry. Shares are up 3.1% year to date as of the close of trading on Wednesday. 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 106.3, above the S&P 500 P/E ratio of 17.7.