Premiere Global Services Stock Soars (PGI)

NEW YORK ( TheStreet) -- Shares of Premiere Global Services (NYSE: PGI) have taken a tremendous swing upward. The stock is trading at $9.83 as of 10:25 a.m. ET, 22% above Thursday's closing price of $8.06. Volume is at 245,182, 1.6 times the daily average of 157,000.

Premiere Global Services has a market cap of $418.4 million and is part of the technology sector and telecommunications industry. Shares are down 4.8% year to date as of the close of trading on Thursday.

Premiere Global Services, Inc. provides virtual meeting solutions in North America, Europe, and the Asia Pacific. The company has a P/E ratio of 23.8, above the average telecommunications industry P/E ratio of 19.4 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Premiere Global Services as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Premiere Global Services Ratings Report.

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