NEW YORK ( TheStreet) -- Shares of LoopNet (Nasdaq: LOOP) were gapping up Thursday morning with an open price 25.5% higher than Wednesday's closing price. The stock closed at $14.37 Wednesday and opened today's trading at $18.04. The average volume for LoopNet has been 154,500 shares per day over the past 30 days. LoopNet has a market cap of $464.9 million and is part of the financial sector and real estate industry. Shares are up 29.3% year to date as of the close of trading on Wednesday. LoopNet, Inc. operates an online marketplace for commercial real estate in the United States. The company has a P/E ratio of 39.8, equal to the average real estate industry P/E ratio and above the S&P 500 P/E ratio of 16.9. 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. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.
LoopNet (Nasdaq:LOOP) hit a new 52-week high Wednesday as it is currently trading at $19.07, above its previous 52-week high of $18.95 with 425,420 shares traded as of 9:35 a.m. ET. Average volume has been 300,300 shares over the past 30 days.