Price Target Update on Akamai Technologies (NASDAQ:AKAM)

Akamai Technologies (NASDAQ:AKAM) : 13 Wall Street analysts covering Akamai Technologies (NASDAQ:AKAM) believe that the average level the stock could reach for the short term is $60.46. The maximum price target given is $75 and the minimum target for short term is around $35, hence the standard deviation is calculated at $12.01.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Craig-Hallum downgrades the rating on Akamai Technologies (NASDAQ:AKAM). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on April 27, 2016.

Akamai Technologies (NASDAQ:AKAM): stock turned positive on Thursday. Though the stock opened at $55.24, the bulls momentum made the stock top out at $57.17 level for the day. The stock recorded a low of $55.125 and closed the trading day at $57.17, in the green by 4.52%. The total traded volume for the day was 2,517,337. The stock had closed at $54.7 in the previous days trading.

The company shares have dropped -23.36% from its 1 Year high price. On Jul 31, 2015, the shares registered one year high at $76.98 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $52.65 and the 200 Day Moving Average price is recorded at $51.80. On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Akamai Technologies Inc, Leighton F Thomson had purchased shares worth of $999,749 in a transaction dated on June 16, 2016. A total of 18,881 shares were purchased at a price of $52.95 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Akamai Technologies, Inc. is a provider of cloud services for delivering, optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites, tools that support the delivery and operation of cloud-based applications, as well as security solutions, and live and on-demand streaming video capabilities. The Companys solutions include Media Delivery Solutions, Performance and Security Solutions, and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Companys core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

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