NEW YORK ( TheStreet) -- Actuate Corporation (Nasdaq: BIRT) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Actuate Corporation provides software and services for business intelligence and reporting, and performance management applications primarily in North America, Europe, the Middle East, and the Asia/Pacific region. The company has a P/E ratio of 24.6, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 23.1. Actuate has a market cap of $254.8 million and is part of the technology sector and computer software & services industry. Shares are down 3.9% year to date as of the close of trading on Monday.