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
|Aug 2015||Deutsche Bank||Maintains||Buy|
|Aug 2015||JMP Securities||Upgrades||Market Perform||Market Outperform|
|Aug 2015||Pacific Crest||Assumes||Overweight|
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