Market Overview

UPDATE: Oppenheimer Upgrades Akamai Technologies to Outperform on Strong Trends

Related AKAM
Wall Street's M&A Chatter From October 11: Akamai-Nominum, T-Mobile-Sprint, SeaWorld
Short-Lived Akamai Enthusiasm Prompts Vetr Downgrade
Akamai Technologies Inc (AKAM) CEO F Thomson Leighton Bought $999,8—6 of Shares (GuruFocus)

Oppenheimer raised its rating on Akamai Technologies (NASDAQ: AKAM) from Perform to Outperform with a newly-established $50 price target.

Oppenheimer commented, "The company is a major beneficiary of the migration to cloud computing. We see this migration accelerating in the next two years due to wireless broadband network and device adoption, combined with more cloud services standards (OpenStack, etc.). AKAM helps a vast majority of eCommerce companies to deliver their services over the Internet (cloud), and this is becoming more important over wireless networks. Given the company's strong growth profile, stable margins and solid balance sheet, we think the stock is attractively valued at ~7x 2013E EBITDA."

Akamai Technologies closed at $36.11 on Wednesday.

Latest Ratings for AKAM

Sep 2017NomuraMaintainsNeutral
Sep 2017Credit SuisseInitiates Coverage OnNeutral
Jul 2017Morgan StanleyMaintainsUnderweight

View More Analyst Ratings for AKAM
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


Related Articles (AKAM)

View Comments and Join the Discussion!

Partner Center