TMCnet News
Downgrade Alert for Akamai Technologies (AKAM)Feb 07, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Akamai Technologies (NASDAQ:AKAM) was downgraded from Buy to Neutral at Janney Montgomery today. The stock closed yesterday at $41.36 on volume of 3.4 million shares, above average daily volume of 2.2 million. Akamai Technologies, Inc. provides global delivery services for Internet content, streaming media, and applications and global Internet traffic management. The Company uses technology and software based on mathematical formulas and algorithms to monitor Internet traffic patterns. Potential upside of 6.3% exists for Akamai Technologies, based on a current level of $41.58 and analysts' average consensus price target of $44.19. The stock should discover initial support at its 50-day moving average (MA) of $39.66 and subsequent support at its 200-day MA of $35.78. Akamai Technologies share prices have moved between a 52-week high of $42.53 and a 52-week low of $25.90 and closed yesterday at 61% above that low price at $41.58 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%. SmarTrend recommended that subscribers consider buying shares of Akamai Technologies on December 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.35. Since that recommendation, shares of Akamai Technologies have risen 5.7%. We continue to monitor AKAM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |