Shares of Akamai Technologies (Nasdaq:AKAM) were gapping up Thursday morning with an open price 10.1% higher than Wednesday's closing price. The stock closed at $36.11 yesterday and opened today's trading at $39.75.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Shares of Akamai Technologies (Nasdaq: AKAM) were gapping up Thursday morning with an open price 10.1% higher than Wednesday's closing price. The stock closed at $36.11 Wednesday and opened today's trading at $39.75.
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The average volume for Akamai has been 2.3 million shares per day over the past 30 days. Akamai has a market cap of $6.47 billion and is part of the technology sector and internet industry. Shares are up 11.9% 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 35.4, above the average internet industry P/E ratio of 35.1 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 solid stock price performance, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. 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. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.