Procera Stock Hits New 52-Week High (PKT)

NEW YORK ( TheStreet) -- Procera Networks (Nasdaq: PKT) hit a new 52-week high Monday as it is currently trading at $22.18, above its previous 52-week high of $21.84 with 18,536 shares traded as of 9:34 a.m. ET. Average volume has been 263,900 shares over the past 30 days.

Procera has a market cap of $217.2 million and is part of the technology sector and computer software & services industry. Shares are up 36.4% year to date as of the close of trading on Friday.

Procera Networks, Inc. provides network traffic awareness, analysis, and control solutions for broadband service providers. It offers intelligent policy enforcement solutions that enable mobile and broadband network operators and entities to manage private networks. The company has a P/E ratio of 75.9, below the average computer software & services industry P/E ratio of 93.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Procera as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Procera Ratings Report.

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