Canaccord Genuity Maintains a 'Hold' on Akamai Technologies (AKAM); Cost Structure Improving

August 29, 2012 8:52 AM EDT
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Price: $68.98 -0.89%

Rating Summary:
    21 Buy, 16 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Canaccord Genuity maintains a 'Hold' on Akamai Technologies (NASDAQ: AKAM) price target of $37.00 (from $34.00).

Analyst, Greg Miller, said, "With the review of the latest 10-Q we believe it is increasingly clear that key elements of Akamai’s cost structure continue to improve to the point where we are no longer as concerned about the once-escalating colocation costs and their related impact on margins. With the continued improvements that will likely offset the likely sequential Q4 weakness from public sector contracts, we are upwardly adjusting estimates and our price target to $37."

For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here.

Shares of Akamai Technologies closed at $37.31 yesterday.

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