Akamai Technologies, Inc. (AKAM)

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Jefferies Raises Estimates on Akamai Technologies (AKAM); Early in Several Product Cycles

Jefferies maintains a 'Buy' on Akamai Technologies (NASDAQ: AKAM) price target of $43.00 (from $42.00).

Analyst, Aaron Schwartz, said, "AKAM reported 2Q upside with guidance above consensus as strong business trends offset currency adjustment concerns. The company is early in several product cycles with additional releases expected in 2H with a backdrop of strong volume traffic trends. Estimates move higher and further stock appreciation potential exists based just on in line historic valuation levels."

FY12 EPS estimate raised from $1.64 to $1.74 and FY13 $1.87 to $1.95.

For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here.

Shares of Akamai Technologies closed at $28.25 yesterday, with a 52 week range of $18.25-$39.14.