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TheStreet Wire

LoopNet Reaches New 52-Week High (LOOP)

By TheStreet Wire 04/29/11 - 12:23 PM EDT

Find out if (LOOP) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- LoopNet (Nasdaq:LOOP) hit a new 52-week high Friday as it is currently trading at $18.57, above its previous 52-week high of $18.55 with 566,685 shares traded as of 12 p.m. ET. Average volume has been 156,200 shares over the past 30 days.

LoopNet has a market cap of $466.9 million and is part of the financial sector and real estate industry. Shares are up 65.7% year to date as of the close of trading on Thursday.

LoopNet, Inc. operates an online marketplace for commercial real estate in the United States. The company has a P/E ratio of 38.8, below the average real estate industry P/E ratio of 39.9 and above the S&P 500 P/E ratio of 17.

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TheStreet Ratings rates LoopNet as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full LoopNet Ratings Report.

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