Wednesday, March 17th, 2010
Notable Analyst Upgrades, Downgrades and Comments
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Akamai Technologies, Inc. (NASDAQ:AKAM), OpenTable Inc. (NASDAQ:OPEN), and F5 Networks, Inc. (NASDAQ:FFIV) are three notable analyst upgrades, downgrades and comments made during today’s session.
Akamai Isn’t Playing Any Games with Investors
Akamai Technologies, Inc. (AKAM, Free Analysis), which provides services for accelerating and improving the delivery of content online, could move sharply higher, according to at least one analyst. Oppenheimer raised its target price from $30 to $35 per share and reiterated its Outperform rating on the stock.
After meeting with a marketing director, the analyst believes that several trends will accelerate online video adoption and increase traffic growth over the next couple of years. Meanwhile, Oppenheimer expects Akamai to return to double-digit growth in 2011 and beyond, which led it to increase its price target on the stock.
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OpenTable Looks Appetizing to One Analyst
OpenTable Inc. (OPEN, Free Analysis), which operates an online network connecting reservation-taking restaurants and people, could move higher, is seeing positive interest from at least one analyst, despite a rush of insider selling. Stifel Nicolaus raised its price target from $34 to $45 per share and reiterated its Buy rating on the stock.
The analyst believes that the company’s North American operations deserve a high multiple because of its strong hold on the restaurant reservations market. Moreover, Nicolaus thinks that the company will generate strong growth in North America through 2014, given the positive fundamental picture.
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F5 Networks Receives Analyst Upgrade
F5 Networks, Inc. (FFIV, Free Analysis), which provides application delivery networking products, saw its shares rise marginally higher after PacCrest raised its price target on the stock from $68 to $76 per share. The analyst said that its channel checks indicate that the company’s first quarter is tracking above the high-end of guidance and maintained its Outperform rating.
The move follows similar analyst upgrades by MKM Partners and Deutsche Bank earlier this month. MKM Partners raised its price target to $71 from $60 per share, while Deutsche Bank raised its target from $61 to $70 per share. And finally, CNBC’s Jim Cramer also came out bullish on the stock during his March 8th show earlier this month.
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-- Written by Simon Monger
