2. As of noon trading, Rackspace Hosting ( RAX) is up $2.28 (6.8%) to $35.93 on heavy volume. Thus far, 2.7 million shares of Rackspace Hosting exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $33.63-$36.20 after having opened the day at $33.72 as compared to the previous trading day's close of $33.65. Rackspace Hosting, Inc., through its subsidiaries, 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 $4.6 billion and is part of the computer software & services industry. The company has a P/E ratio of 49.5, above the S&P 500 P/E ratio of 17.7. Shares are down 54.7% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Rackspace Hosting a buy, 2 analysts rate it a sell, and 10 rate it a hold. TheStreet Ratings rates Rackspace Hosting as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. Get the full Rackspace Hosting Ratings Report now. 3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.