Accordingly, some caution has crept into Wall Street's view of the stock with seven of the 16 analysts covering the shares at hold (6) or sell (1); although the majority still remain bullish at either strong buy (1) or buy (8). The 12-month median price target of $55, however, seems an acknowledgment that the shares may have a tough time rallying much higher from here.
Back on Jan. 25, the shares dipped down to $49.99, closing below $50 for the first time since Nov. 30 amid concerns about companies with any association to cloud computing. Tuesday's news looked to be giving a slight lift to competitors like Savvis (SVVS) and Internap Network Services (INAP - Get Report); although volume in those names was scant.
Written by Michael Baron in New York.
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