by Sam Collins | January 22, 2013 1:15 am
Akamai Technologies (NASDAQ:AKAM) — This company provides content delivery and cloud infrastructure for delivery of data and content over the Internet. In addition to its content delivery networks, it provides enhanced security features. Since February 2012, the company has been acquiring other software companies that fit into its overall business plan.
Its main strengths are solid stock price performance, earnings growth, strong revenue growth, and a solid financial position with very low debt. Earnings are expected to reach $1.77 in 2012 versus $1.52 in 2011, and consensus estimates are for $2 in 2013.
Although the overall return to stockholders was 28% last year, the stock was in a consolidation between $28 and $39 for most of the year. In late December, AKAM broke from a cup-and-handle bullish consolidation and jumped to over $42 before succumbing to profit-taking.
Now at just under $40 the stock appears ready to provide a trade to $48. Long-term buyers could see the stock north of $52 this year.
Source URL: https://investorplace.com/2013/01/trade-of-the-day-akamai-technologies-nasdaq-akam-5/
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