Akamai Technologies (AKAM) Stock Price Target Decreased at MKM
NEW YORK (TheStreet) -- Shares of Akamai Technologies (AKAM) - Get Report are up 0.99% to $50.99 Monday morning as MKM Partners decreased its price target to $68 from $69 on the stock but maintained its "buy" rating.
Akamai stock declined about 28% in October and continued to slide through January. "Now that customer concentration has been largely de-risked," the firm expects the company's "historically" well-performing stock to go up again.
"We see a positive bias to estimates and expect the multiple to recover to historic norms," MKM analysts said in an investor note, adding that the company remains strong in such things as cloud security and website performance.
In April, the Cambridge, MA-based firm reported better-than-expected 2016 first quarter earnings of 66 cents per share on $568 million revenue. Analysts expected Akamai to report revenue of $563 million.
Separately, TheStreet Ratings rated Akamai Technology as a "hold" with a score of C-.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
The primary factors that have impacted this rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: AKAM
