Akamai Technologies, Inc. provides services for accelerating the delivery of content and applications over the Internet.
After a huge decline on 7/31/08 (approx. 25% loss) on ten times the average daily volume, the stock has formed a solid base at about 12 over a period of five months. Since 1/22/09 the price has been rising consistently, today reaching a new twenty week high, an anomaly in this environment.
AKAM is trading today at 18.23, up .55 and bucking the trend.
Some appealing factors for AKAM are:
- Good volume (4.5 million avg./day)
- Insider buying in December '08
- Steady price rise above the 50 day moving average
- It is one of the top companies in the sector
- Sustained earnings estimate for '09
- Adequate forward P/E of 10.37
I would consider AKAM at this time a good buy candidate.