Market Overview

UPDATE: D.A. Davidson Downgrades Akamai Technologies to Neutral on Multiple Positive Factors

Related AKAM
UPDATE: UBS Initiates Coverage On Akamai Technologies, Inc., Calls Company The 'Google Of the Internet Infrastructure'
Markets Little Changed In Low Volume And Slow News Ahead Of Long Weekend
IBM's (Not So) Secret Weapon: Hybrid Cloud Computing (Fox Business)

In a report published Thursday, D.A. Davidson analyst Donna Jaegers downgraded the rating on Akamai Technologies (NASDAQ: AKAM) from Buy to Neutral, but reiterated the $50.00 price target.

In the report, D.A. Davidson noted, “Several positives support current valuation. After beating Q1 expectations, AKAM's stock has risen 28.5% and currently is valued at 11x EV/EBITDA and 22.3x adjusted pro forma 2013 EPS. We think strong media traffic has continued in Q2 as several content companies put more of their content online for TV Everywhere. We think AKAM's sales of security products have also been strong in Q2 as attack traffic has continued to run at 70%-90% over normal. We are raising our revenue estimate for Q2 slightly to $373.1 million, which is now at the higher end of AKAM's guidance range of $368-$378 million.”

Akamai Technologies closed on Wednesday at $46.36.

Latest Ratings for AKAM

DateFirmActionFromTo
Sep 2014UBSInitiates Coverage onBuy
Aug 2014BairdInitiates Coverage onOutperform
Jul 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for AKAM
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Donna JaegersAnalyst Color Downgrades Analyst Ratings

 

Related Articles (AKAM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters