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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.

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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

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