Shares of Akamai Technologies (Nasdaq:AKAM) were gapping up Thursday morning with an open price 13% higher than Wednesday's closing price. The stock closed at $34.44 yesterday and opened today's trading at $38.92.
NEW YORK ( TheStreet) -- Shares of Akamai Technologies (Nasdaq: AKAM) were gapping up Thursday morning with an open price 13% higher than Wednesday's closing price. The stock closed at $34.44 Wednesday and opened today's trading at $38.92. The average volume for Akamai has been 4.6 million shares per day over the past 30 days. Akamai has a market cap of $5.63 billion and is part of the technology sector and internet industry. Shares are up 6.7% year to date as of the close of trading on Wednesday. Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the Internet in the United States and internationally. The company has a P/E ratio of 33.3, above the average internet industry P/E ratio of 31.1 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Akamai as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Akamai 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.