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Upgrade Alert for Akamai Technologies (AKAM)

By Amy Schwartz

Akamai Technologies (NASDAQ:AKAM) was upgraded from Underperform to Market Perform at FBR Capital today. The stock closed yesterday at $67.70 on volume of 13.7 million shares, above average daily volume of 2.1 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.

Akamai Technologies (NASDAQ:AKAM) has potential upside of 4.6% based on a current price of $67.70 and analysts' consensus price target of $70.83. Akamai Technologies shares have support at the 200-day moving average (MA) of $59.75 and additional support at the 50-day MA of $53.67.

Over the past year, Akamai Technologies has traded in a range of $39.43 to $78.44 and closed yesterday at $67.70, 72% above that low. The 200-day and 50-day moving averages have moved 0.76% lower and 0.61% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Akamai Technologies on June 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.15. Since that recommendation, shares of Akamai Technologies have risen 5.2%. We continue to monitor AKAM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Akamai Technologies

Ticker(s): AKAM