Shares of Akamai Technologies (Nasdaq:AKAM) were gapping up Thursday morning with an open price 18.4% higher than Wednesday's closing price. The stock closed at $28.25 yesterday and opened today's trading at $33.45.
NEW YORK ( TheStreet) -- Shares of Akamai Technologies (Nasdaq: AKAM) were gapping up Thursday morning with an open price 18.4% higher than Wednesday's closing price. The stock closed at $28.25 Wednesday and opened today's trading at $33.45.
The average volume for Akamai has been 3.3 million shares per day over the past 30 days. Akamai has a market cap of $5.09 billion and is part of the technology sector and internet industry. Shares are down 12.5% year to date as of the close of trading on Wednesday. Akamai Technologies, Inc. provides content delivery and cloud infrastructure services for accelerating and improving applications over the Internet in the United States and internationally. The company has a P/E ratio of 27, equal to the average internet industry P/E ratio 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Akamai Ratings Report. Get more investment ideas from our investment research center.