UPDATE: Jefferies Downgrades Akamai Technologies to Hold on Short Term Outlook
Jefferies downgraded Akamai Technologies (NASDAQ: AKAM) from Buy to Hold and lowered the price target from $44.00 to $40.00.
Jefferies said, "AKAM plans to increase reinvestments well ahead of Street forecasts across both sales distribution and R&D. We had been concerned with the likely revenue growth deceleration in CY13 and now with a margin profile that is also likely to contract, we believe the shares will be range bound in the interim."
Akamai Technologies closed at $41.58 on Wednesday.
Latest Ratings for AKAM
|Oct 2016||FBR Capital||Upgrades||Underperform||Market Perform|
|Aug 2016||Wells Fargo||Upgrades||Market Perform||Outperform|
|Jul 2016||Pacific Crest||Downgrades||Overweight||Sector Weight|
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