BOSTON (TheStreet) -- The S&P 500 has rallied 8.3% so far this month, led by the following 10 stocks. Some have run too far, too fast, overshooting analysts' price targets, and now look susceptible to a sell-off. Others are poised to extend gains. Below, the stocks are ordered by their return since Sept. 1. Median targets and expected returns are also included.

10. Salesforce.com ( CRM) sells relationship management software. Its stock has rallied 10% in Sept., overshooting analysts' median target of $112.58. The stock is now overpriced and due to fall 7%. Salesforce.com's second-quarter profit fell 30% to $15 million, or 11 cents a share, as revenue advanced 25% to $394 million. The operating margin narrowed from 9.3% to 7.5%. Salesforce.com carries $742 million of cash and $461 million of long-term debt.

Salesforce.com's stock trades at a trailing earnings multiple of 208, a forward earnings multiple of 77, a book value multiple of 12 and a cash flow multiple of 44 -- 542%, 193%, 134% and 130% premiums to software industry averages. The stock's PEG ratio, a measure of value relative to predicted long-run growth, of 2.4 signals a 140% premium to fair value. Salesforce.com has outstanding growth rates, but is overpriced based on all valuation metrics.

9. Symantec ( SYMC) offers security and systems management services. Its stock has gained 11% in Sept. It is still 11% below analysts' median target. Symantec's second-quarter profit more than doubled to $161 million, or 20 cents a share, as revenue hovered at $1.4 billion. The operating margin extended from 13% to 16%. Symantec holds $2.7 billion of cash and $1.9 billion of debt, equaling a quick ratio of 0.7 and a debt-to-equity ratio of 0.4

Symantec's stock sells for a forward earnings multiple 9.8, a book value multiple of 2.6, a sales multiple of 2 and a cash flow multiple of 7.2 -- 63%, 50%, 83% and 62% discounts to peer averages. Its PEG ratio of 0.3 reflects a 70% discount to fair value. Of analysts covering Symantec, 15, or 43%, rate its stock "buy" and 20 rank it "hold." JPMorgan ( JPM) expects the stock to advance 53% to $23. Lazard Capital Markets offers a price target of $21.

8. Red Hat ( RHT) designs and sells open source software to businesses. Its stock has jumped 13% in Sept., but it is predicted to drop 3%, based on analysts' median price target. Red Hat is due to report fiscal second-quarter results on Wednesday. Red Hat's fiscal first-quarter profit rose 30% to $24 million, or 12 cents a share, as revenue increased 20% to $209 million. The operating margin rose from 14% to 16%. Red Hat has $824 million of cash and no debt.

Red Hat's stock trades at a trailing earnings multiple of 82, a forward earnings multiple of 44, a book value multiple of 6.6 and a cash flow multiple of 28 -- 151%, 70%, 25% and 48% premiums to software industry averages. Its PEG ratio of 1.3 indicates a 30% premium to fair value. Of researchers evaluating Red Hat, 13, or 52%, advise purchasing its shares, 11 recommend holding and one suggests selling. A median target of $37.70 indicates 3% downside.

7. Akamai Technologies ( AKAM) sells services to accelerate the delivery of content and applications over the Internet. Its stock has risen 15% in September, surpassing analysts' median target. The shares have 16% of potential downside. Second-quarter profit gained 6% to $38 million, or 20 cents a share, as revenue grew 20% to $245 million. The operating margin dropped from 27% to 23%. Akamai has $504 million of cash and $64 million of debt.

The stock sells for a trailing earnings multiple of 65, a forward earnings multiple of 33, a sales multiple of 10 and a cash flow multiple of 23 -- 82%, 16%, 30% and 38% premiums to Internet software and services industry averages. Of analysts covering Akamai, seven, or 32%, rate its stock "buy", 14 rank it "hold" and one rates it "sell." Goldman Sachs ( GS) expects a rise of 14% to $60. On the other hand, Piper Jaffray ( PJC) forecasts a drop of 26% to $39.

6. Apollo Group ( APOL) runs various education programs in classrooms and online. Its stock has climbed 19% in Sept., but is still 15% below analysts' median target. Apollo's fiscal third-quarter profit dropped 11% to $179 million, or $1.16 a share, as revenue increased 28%. The operating margin remained steady at 33%. Apollo holds $1.4 billion of cash and $167 million of debt, converting to a quick ratio of 1.2 and a debt-to-equity ratio of 0.1.

The stock trades at a trailing earnings multiple of 12, a forward earnings multiple of 8.8 and a cash flow multiple of 7.7 -- 35%, 40% and 16% discounts to consumer services industry averages. Its PEG ratio of 0.3 signals a 70% discount to estimated fair value. Of researchers following Apollo, 13, or 59%, advise purchasing its shares and nine recommend holding them. Deutsche Bank ( DB) predicts that Apollo's stock will advance another 47% to $75.

5. NetApp ( NTAP) sells storage and data management software to businesses. Its stock has climbed 23% in Sept., overshooting analysts' median target. Based on the consensus forecast, the shares could correct 10%. NetApp's fiscal first-quarter profit nearly tripled to $142 million, or 38 cents a share, as revenue gained 36% to $1.1 billion. The operating margin extended from 3.7% to 15%. NetApp has $3.9 billion of cash and $1.1 billion of debt.

The stock sells for a trailing earnings multiple of 36, a forward earnings multiple of 22, a book value multiple of 6.1 and a sales multiple of 4.1 -- 80%, 25%, 35% and 32% premiums to peer averages. Its PEG ratio of 0.5 reflects a 50% discount to estimated fair value. Of analysts covering NetApp, 21, or 51%, advocate purchasing its shares and 20 counsel holding. Even the most bullish price target for NetApp, at $50, suggests that the stock is fully valued.

4. J.C. Penney ( JCP) operates a network of department stores in the U.S. and Puerto Rico. Its stock has returned 24% in Sept. Based on analysts' median target, the stock has 11% of upside. The company swung to a second-quarter profit of $14 million, or 6 cents a share, from a year-earlier loss. The operating margin rose from 1.5% to 2.2%. J.C. Penney holds $2 billion of cash and $3 billion of debt, converting to a debt-to-equity ratio of 0.6.

The stock trades at a forward earnings multiple of 14, a book value multiple of 1.2, a sales multiple of 0.3 and a cash flow multiple of 8.3 -- 20%, 51%, 47% and 46% discounts to multiline retail industry averages. Its PEG ratio of 0.6 suggests a 40% discount to fair value. Of researchers evaluating J.C. Penney, six recommend purchasing its shares, eight advise holding and one says to sell. Credit Suisse ( CS) values the stock at $32, implying 30% upside.

3. Expedia ( EXPE) is an online travel company. Its stock has jumped 25% in Sept. It is slightly above analysts' median target of $28.42. Expedia's second-quarter profit more than doubled to $114 million, or 40 cents a share, as revenue expanded 8.3% to $834 million. The operating margin declined from 25% to 23%. Expedia's balance sheet stores $1.1 billion of cash and $895 million of debt, converting to a quick ratio of 0.6 and a debt-to-equity ratio of 0.3.

Expedia's stock sells for a trailing earnings multiple of 21, a forward earnings multiple of 15, a book value multiple of 3.1 and a cash flow multiple of 11 -- 55%, 66%, 72% and 51% discounts to Internet and catalog retail peer averages. Of analysts covering Expedia, 11, or 55%, rate its stock "buy" and nine rank it "hold." None rate it "sell." The stock has overshot its median target. Still, Davenport & Co. believes that Expedia shares could climb another 18% to $34.

2. Oracle ( ORCL) develops database, middleware, and application software and hardware. Its stock has rallied 26% in Sept., but could run another 13% based on analysts' median price target. Oracle's fiscal first-quarter profit increased 20% to $1.4 billion, or 27 cents a share, as revenue surged 48% to $7.5 billion. The operating margin dropped from 36% to 28%. Oracle holds $24 billion of cash and $17 billion of debt, converting to a debt-to-equity ratio of 0.5.

The stock trades at a forward earnings multiple of 13, a book value multiple of 4.3, a sales multiple of 4.7 and a cash flow multiple of 16 -- 52%, 19%, 60% and 17% discounts to software industry averages. The stock's PEG ratio of 0.4 reflects a 60% discount to estimated fair value. Of researchers following Oracle, 33, or 80%, advocate purchasing its shares, seven suggest holding and one says to sell. JPMorgan projects a return of 27% to $35.

1. JDS Uniphase ( JDSU) sells communications testing and measurement products to telecom, cable, and network equipment companies. Its stock has rallied 35% in Sept., but it has 20% more upside based on analysts' median price target. JDS swung to a second-quarter profit of $1.5 million, or 1 cent per share, from a year-earlier loss. The operating margin turned positive. JDS carries $272 million of debt, translating to a modest debt-to-equity ratio of 0.3.

JDS Uniphase's stock sells for a forward earnings multiple of 14 and a sales multiple of 2 -- 24% and 40% discounts to communications equipment industry averages. It's fairly valued based on book value and expensive when considering cash flow per share. Of analysts covering JDS Uniphase, nine, or 60%, advise purchasing its shares and six recommend holding. None rate the stock "sell." Citigroup ( C) predicts that the stock will gain another 41% to $17.50.

-- Written by Jake Lynch in Boston.

RELATED STORIES:


Become a fan of TheStreet on Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Investing

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Adobe Isn't Just Going After Shopify With Its Latest Acquisition

Adobe Isn't Just Going After Shopify With Its Latest Acquisition

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Bitcoin Today: Prices Slip as Broader Crypto Market Struggles to Make Traction

Bitcoin Today: Prices Slip as Broader Crypto Market Struggles to Make Traction

OMG, J.C. Penney! What CEO Ellison's Surprising Exit Means for Troubled Retailer

OMG, J.C. Penney! What CEO Ellison's Surprising Exit Means for Troubled Retailer