Market Overview

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

Share:
Related AKAM
Get To Know 'Pure-Play' Akamai
Akamai Prevails in Patent Infringement Verdict vs Limelight Networks
Akamai Web TV Payoff Seen 'Late 2015 And Into 2016' (Investor's Business Daily)

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
Aug 2015Pacific CrestAssumesOverweight
Jul 2015Deutsche BankMaintainsBuy
Jun 2015MacquarieInitiates Coverage onOutperform

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)

Get Benzinga's Newsletters