Stock Watch: Akamai Technologies, Inc. (NASDAQ:AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM), the leading provider of cloud services for delivering, optimizing and securing online content and business applications, announced availability of Cloudlets, extensions to Akamai solutions that are designed to speed time to market for developers and offload infrastructure demand, each providing a specific and useful functionality that is accessed via the Akamai Intelligent Platform™Instead of relying on resource intensive internal or third-party IT projects, Cloudlets allow customers to do more with the Akamai Intelligent Platform, in a way that is self-serviceable, alleviating the need for further infrastructure investment or the development of custom tooling.Stock PerformanceTaking a look at the company’s recent performance, Akamai Technologies, Inc. (NASDAQ:AKAM) reported second quarter earnings for fiscal 2014 on July 30^th. The company reported actual earnings per share of $0.58 against the consensus Street estimate of $0.55. This represents year over year growth of 20.0%. Akamai posted revenue of $476.90 billion against estimates of $472.90 billion. Akamai is currently valued at $10.64 billion and closed the last trading session at $59.74. The stock has a 50-day moving average of $60.76 and a 200-day moving average of $57.79.Is this a Buying Opportunity?There are currently twelve analysts that we track that cover the stock. Of those twelve, nine have a Buy rating and three have a hold rating. On a consensus basis this yields a score of 2.75 and a Buy. The combined price objective of these covering analysts is $65.32, which represents a 9.34% upside difference to the last closing price.The most recent analyst activity consisted of Robert W. Baird Initiated Coverage their Outperform stance on the company. Robert W. Baird has a price target of $71 which represents an upside of 18.84% from the last closing price. On the date of the report, the stock closed at $60.56. Another research firm weighing in recently was Credit Suisse who also reiterated their rating on the stock. On July 31th Credit Suisse boosted their price target on the stock from $47 to $50, or a 16.30% downside to the current price. On the day of the report, AKAM shares closed at $59.02.Company ProfileAkamai Technologies, Inc. (NASDAQ:AKAM) provides cloud services for delivering, optimizing, and securing online content and business applications in the United States and internationally. The company offers media delivery solutions to execute digital media and software distribution strategies, including HTTP delivery network that supports progressive media downloading and adaptive bitrate streaming to various player platforms; cloud-based media streaming and distribution solutions; analytics solution that is designed to provide customers with quality of service and other measurement capabilities for post event analysis, real-time quality awareness, and the ability to troubleshoot issues to the individual viewer level; and Web performance solutions