Acme Packet Could Be The Hottest Stock In The World! (APKT)

Benzinga has repeatedly flagged shares of Acme Packet

over the last week as they are being accumulated on heavy volume. Once again, during Tuesday's trading session, APKT has surged 2.86% to $55.02 on above average volume. More than 1.4 million APKT shares have traded hands compared to a daily average of around 1.3 million shares. This stock may be the hottest name in the world right now. The gains have been jaw dropping for APKT in 2010. Year-to-date, the stock has risen almost 400%...yes you read that right. In the last 6 months, the shares have gained more than 110% and in the last month APKT is up 31%. This stock is certainly not cheap. The shares trade at a trailing P/E of 97.22, a forward P/E of 54, and a PEG ratio of 2.09. The median Wall Street price target on APKT is $45.00 with a high target of $55.00. The shares have now exceeded this bullish analyst's high target. In 2006, Acme Packet reported revenues of $84 million. Analysts are projecting that the company will report revenue of $221.26 million this year and $293.47 million next year. Earnings per share are expected to be $0.76 in fiscal 2010 and grow to $1.02 next year. If you are a momentum or aggressive growth investor, this name needs to be on your radar. Given the run in the name and the stock's current valuation, there is plenty of risk in APKT, but thus far, shareholders have been more than compensated.