Akamai Technologies, Inc (NASDAQ:AKAM), which assists businesses deliver data more quickly over the Internet and frequently the target of takeover rumor, is getting ready to make some purchases of its own to boost profit.
Senior vice president and General Manager of the Akamai’s enterprise cloud unit Willie Tejada stated that Akamai is shopping for security and networking companies. In security, he said he’s looking at firewall technology for Web applications.
Akamai’s clients, which comprise Apple Inc (NASDAQ:AAPL), MTV Networks and Verizon Wireless, depend on the corporation to keep websites operating during peaks in demand like, during a main news event or product declaration.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Limelight Networks, Inc (NASDAQ:LLNW) fell -0.77% to settle at $2.59, Rackspace Hosting, Inc (NYSE:RAX) moved up +1.47% to end at $55.81 while InterNAP Network Services (NASDAQ:INAP) jumped +2.87% to finish on Friday at $7.17.
Akamai Technologies, Inc (NASDAQ:AKAM) on Aug 17, 2012 decreased-0.69% to the closing price of $37.55. The overall volume in the last trading session was 2.55 million shares. Its fifty two week range was $18.25-$39.14. The total market capitalization remained $6.66 billion.
AKAM is ahead its 52 week low with 105.75% and lagging behind from its 52 week high price with -4.06%. AKAM last month stock price volatility remained 2.82%. In its share capital AKAM has 177.31 million outstanding shares among them 172.07 million shares have been floated in market exchange. AKAM stock institutional ownership remained 83.58% while insider ownership included 0.75%.
The stock price of AKAM is moving forward from its 20 days moving average with +9.04% and remote positively from 50 days moving average with +17.03%. AKAM current year earnings per share experienced an addition with 18.54% while its current quarter performance remained +31.99%. Company’s beta coefficient included 0.87. Beta factors measures the amount of market risk associated with market trade.
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