The Cambridge, MA-based company is a provider of cloud services for delivering, optimizing and securing online content and business applications.
"While e-commerce improved quarter over quarter and produced solid year over year growth, the media traffic rate continued to weaken," the firm said in an analyst note.
Although Keybanc is cautious on the fourth quarter due to media traffic trends and uncertainty surrounding first quarter guidance, it recommends building long-term positions. If traffic returns to more normalized levels, the firm believes it will be too late to own the stock.
Shares of Akamai Technologies close at $48.10 on Friday.
Separately, recently, 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:
We rate AKAMAI TECHNOLOGIES INC as a Buy with a ratings score of B-. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.