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UPDATE: Jefferies Downgrades Akamai Technologies to Hold on Short Term Outlook

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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

DateFirmActionFromTo
Aug 2016Wells FargoUpgradesMarket PerformOutperform
Jul 2016Goldman SachsMaintainsSell
Jul 2016Pacific CrestDowngradesOverweightSector Weight

View More Analyst Ratings for AKAM
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Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

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