U.S. Markets open in 8 hrs 27 mins

Short-Lived Akamai Enthusiasm Prompts Vetr Downgrade

Chris Dier-Scalise

The Vetr crowd on Thursday downgraded its rating for Akamai Technologies, Inc. (NASDAQ: AKAM) from 4.5 stars (Strong Buy), issued two days ago, to 4 stars (Buy). Crowd sentiment at the time the downgrade was still unanimously positive, with 100 percent of Vetr user ratings bullish.

Akamai received the downgrade after experiencing a short-lived rise and fall in share price over the course of the market's return from the Labor Day weekend. While it has since returned close to the $47 handle, it was trading at following an unconfined M&A rumor on the cloud network company, the post-break dip might be seen as a correction on the movement created by the rumor.

Akamai finished trading on Thursday slightly down on the day at $46.80.

See how crowdsourced ratings could help you time the market.

Currently, the Vetr crowd's average price target on Akamai is up at $52.07, which is still well below the average analyst price target of $69. Less than 2 percent of Vetr users are holding AKAM in their watch-lists.

Latest Ratings for AKAM

Date Firm Action From To
Sep 2017 Nomura Maintains Neutral
Sep 2017 Credit Suisse Initiates Coverage On Neutral
Jul 2017 Morgan Stanley Maintains Underweight

View More Analyst Ratings for AKAM
View the Latest Analyst Ratings

See more from Benzinga

© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.