Akamai Tech (NASDAQ:AKAM) Rating Cut
In an analyst report released on Wednesday, 3 May, DA Davidson stated it was downgrading Akamai Tech (NASDAQ:AKAM) stock from a Buy to a Neutral. The firm has $57.0 target price on AKAM’s stock.
This rating downgrade was noticed by equity traders, as NASDAQ:AKAM is right now trading 0.00% lower at $62.50 as of 12:01 AM New York time. Akamai Tech shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has added 10.61% over the same time.
Out of 20 analysts covering Akamai Tech, 14 rate it a Buy, 9 indicate a Hold while 3 suggest a Sell. The highest target is $75 and the lowest is $35 according to Thomson/First Call. The 12-month mean target is $60.75, which means downside potential of 2.80% over the current price.
Stonerise Capital Management Llc had the biggest stake with ownership of 225,000 shares as of Q2 2015 for 8.73% of the stocks portfolio. Blue Harbour Group L.P. is another bullish investment manager who is owning 2.56M shares of Akamai Tech or 5.02% of their stocks portfolio. In addition, Levy Harkins & Co Inc have 4.15% of their stocks portfolio invested in the company for 198,319 shares. The New York-based fund Sandhill Capital Partners Llc disclosed it had bought so far a stake worth about 3.14% of the investment manager’s stock portfolio in Akamai Tech. The United Kingdom-based fund Generation Investment Management Llp is also positive about the stock, possessing 197,184 shares or 2.92% of their stocks portfolio.
Akamai Tech (NASDAQ:AKAM) Profile
Akamai Technologies, Inc. is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
Akamai Tech (NASDAQ:AKAM) closed at $62.5 yesterday. A total of 176,491 shares of the company’s stock traded hands. This is down from average of 2.13M shares. Akamai Tech has a 52 week low of $47.80 and a 52 week high of $71.64. The company has a market cap of $10.99B and a P/E ratio of 34.06.
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The post DA Davidson Lowers Akamai Tech (NASDAQ:AKAM) to Neutral With $57.0 Target from Buy Rating appeared first on Octafinance.