Morgan Joseph Analysts Begin Coverage on Akamai Technologies (AKAM)
Wednesday, July 13, 2011 1:31 PM

Equities research analysts at Morgan Joseph initiated coverage on shares of Akamai Technologies (NASDAQ: AKAM) in a research note to investors on Wednesday. The analysts set a "buy" rating on the stock.

Separately, analysts at Stifel Nicolaus reiterated a "buy" rating on shares of Akamai Technologies in a research note to investors on Monday, June 13rd. Also, analysts at Wedbush reiterated an "outperform" rating on shares of Akamai Technologies in a research note to investors on Tuesday, May 24th.

Shares of Akamai Technologies traded up 1.55% during mid-day trading on Thursday, hitting $31.419. Akamai Technologies has a 52 week low of $31.58 and a 52 week high of $54.65. The stock's 50-day moving average is $31.10 and its 200-day moving average is $38.37. The company has a market cap of $5.866 billion and a price-to-earnings ratio of 32.74.

Akamai Technologies last announced its quarterly results on Wednesday, April 27th. The company reported $0.38 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.37 EPS by $0.01. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 15.00% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $0.38 EPS next quarter.

Akamai Technologies, Inc. (Akamai) provides services for accelerating and improving the delivery of content and applications over the Internet, ranging from live and on-demand streaming video capabilities to conventional content on Websites, to tools that help people transact business and reach out to new and existing customers. The Company’s solutions are designed to help companies, government agencies and other enterprises. It offers application performance services, services and solutions for digital media and software distribution and storage, content and application delivery, online advertising-related services and other specialized Internet-based offerings. During the year ended December 31, 2009, the Company launched the Akamai HD Network, a new high definition (HD), streaming delivery platform that is designed to enable its customers to offer live and on-demand HD video online to viewers. In June 2010, it acquired Velocitude, a mobile services platform.

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