Akamai Technologies (AKAM) has been under a strong bear grip, hence the stock is down -8.88% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.92% in the past 1 week. The stock has risen by 1.89% in the past week indicating that the buyers are active at lower levels, but the stock is down -8.53% in the past 4 weeks.
Akamai Technologies, Inc. is up 2.36% in the last 3-month period. Year-to-Date the stock performance stands at 0.61%. The stock has recorded a 20-day Moving Average of 1.8% and the 50-Day Moving Average is 1.66%.
Akamai Technologies (NASDAQ:AKAM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.30 and $52.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.95, notching a gain of 1.15% for the day. The total traded volume was 1,391,247 . The stock had closed at $52.35 on the previous day.
Also, In a research note released to the investors, Wells Fargo upgrades its rating on Akamai Technologies (NASDAQ:AKAM).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on August 12, 2016.
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.