Canaccord Genuity Starts Akamai Technologies (AKAM) at Hold; Market Leader, But Fairly Valued
Tweet
Share
E-mailGet Alerts AKAM Hot Sheet
Price: $124.99 -0.24%
Rating Summary:
18 Buy, 20 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 20 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Canaccord Genuity initiates coverage on Akamai Technologies (NASDAQ: AKAM) with a Hold. PT $34.00.
Analyst, Greg Miller, said, "Akamai has managed to transform the company to be less commodity focused, with the shift to Value Added Solutions/Cloud Services. The recent acquisition of Cotendo should bolster Cloud positioning (60% of revs) by eliminating key competition in that market. However, cost pressures keep us on the sidelines as data center costs are soaring, which is increasingly reflected in margin pressures. With the Cotendo acquisition and 35% run-up since, we believe any missteps will likely result in significant pullbacks in the shares."
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 $37.77 yesterday.
Analyst, Greg Miller, said, "Akamai has managed to transform the company to be less commodity focused, with the shift to Value Added Solutions/Cloud Services. The recent acquisition of Cotendo should bolster Cloud positioning (60% of revs) by eliminating key competition in that market. However, cost pressures keep us on the sidelines as data center costs are soaring, which is increasingly reflected in margin pressures. With the Cotendo acquisition and 35% run-up since, we believe any missteps will likely result in significant pullbacks in the shares."
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 $37.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Upgrades Akamai Technologies (AKAM) to Neutral 'on Account of Confidence in Revenue Reacceleration'
- Raymond James Starts SpyGlass Pharma (SGP) at Outperform
- BMO Capital Resumes Snowline Gold Corp (SGD:CN) (SNWGF) at Outperform
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
