Macquarie Remains Neutral on Akamai Technologies (AKAM) as Shares Trade Up

Macquarie reiterated a Neutral rating and $71.00 price target on Akamai Technologies (NASDAQ: AKAM) as shares trade up in recent weeks.

Analyst Kevin Smithen commented, "AKAM shares have rallied back above our $71 TP over the past two weeks and we wanted to revisit consensus estimates to see if the street has taken a more conservative view on OTT roll-out. We believe that Q3 consensus revenue, EBITDA and EPS forecasts are reasonable, but that Q4 consensus estimates remain ~2% to 4% too high. Although most investors we have met with appear to be taking a long-term approach to AKAM as a ‘thematic pure-play’ on OTT, we do see ~10% downside risk to AKAM shares from current levels if consensus estimates aren’t lowered before the print."

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 $73.46 yesterday.

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