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Akamai Technologies (AKAM) Soars: Stock Adds 13.7% in Session

Zacks Equity Research
Updated

Akamai Technologies, Inc. AKAM was a big mover last session, as the company saw its shares rise more than 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 18.6% in the past one-month time frame.

The move came after an activist hedge fund Elliot Management had acquired a 6.5% stake in the company, and said that it would involve with the matters regarding various strategic opportunities in a bid to maximize the shareholders’ value.

The company has not seen any estimate revisions in the past one month, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Akamai currently has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.

Akamai Technologies, Inc. Price

Akamai Technologies, Inc. Price | Akamai Technologies, Inc. Quote

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Investors interested in the Internet - Services industry may consider Leaf Group Ltd. LFGR, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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