Canaccord Genuity Maintains a 'Hold' on Akamai Technologies (AKAM); Adjusting Estimates and PT
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 maintains a 'Hold' on Akamai Technologies (NASDAQ: AKAM) price target lowered from $34 to $32.
Analyst, Greg Miller, said, "We continue to rate Akamai HOLD following the recent downdraft with its share price after Q1 results, Q2 guidance and the announcement that the CEO would be stepping down. While it was revealed at a recent industry conference that CDN pricing conditions may have improved in the near term, we believe this positive note is more than overshadowed by the announcement that Amazon would launch a competing dynamic site acceleration product and effectively replace Cotendo as a long-term competitor."
"Withslightly better than expected pricing trends in the volume sensitive commodity (CDN) business that are offset by increasing competitive pressures in the cloud business with Amazon’s DSA launch, we slightly increase ‘12E EPS and lower ‘13E."
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 $30.19 yesterday.
Analyst, Greg Miller, said, "We continue to rate Akamai HOLD following the recent downdraft with its share price after Q1 results, Q2 guidance and the announcement that the CEO would be stepping down. While it was revealed at a recent industry conference that CDN pricing conditions may have improved in the near term, we believe this positive note is more than overshadowed by the announcement that Amazon would launch a competing dynamic site acceleration product and effectively replace Cotendo as a long-term competitor."
"Withslightly better than expected pricing trends in the volume sensitive commodity (CDN) business that are offset by increasing competitive pressures in the cloud business with Amazon’s DSA launch, we slightly increase ‘12E EPS and lower ‘13E."
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 $30.19 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'
- Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
- Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign 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!
