Canaccord Genuity maintains a 'Hold' on Akamai Technologies (AKAM); Solid Quarter, But CEO Leaving

April 26, 2012 9:49 AM EDT Send to a Friend
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Price: $62.50 +1.66%

Rating Summary:
    23 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 43 | New: 52
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Canaccord Genuity maintains a 'Hold' on Akamai Technologies (NASDAQ: AKAM) price target of $34.00.

Analyst, Greg Miller, said, "We continue to rate Akamai with a HOLD despite the better-than-expected Q1/12 report ($319M of revs vs. our $311M estimate and $142.6M of EBITDA vs. our $135.7M). Despite the relative near-term strength in the business, we continue to believe the incremental competitive pressures in the business combined with recent management changes (CEO announced departure last night) should cause investors to exercise caution."

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 $38.75 yesterday.


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