Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded today at $122.00, eclipsing its 52-week high. This new high was reached on below average trading volume as 203,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.
Akamai Technologies Inc. (NASDAQ:AKAM) is currently priced 0.7% above its average consensus analyst price target of $120.65.
Akamai operates a content delivery network, or CDN, which entails locating servers at the edges of networks so its customers, which store content on Akamai servers, can reach their own customers faster, more securely, and with better quality. Akamai has over 325,000 servers distributed over 4,000 points of presence in more than 1,000 cities worldwide. Its customers generally include media companies, which stream video content or make video games available for download, and other enterprises that run interactive or high-traffic websites, such as e-commerce firms and financial institutions. Akamai also has a significant security business, which is integrated with its core web and media businesses to protect its customers from cyber threats.
In the past 52 weeks, shares of Akamai Technologies Inc. have traded between a low of $96.86 and a high of $122.00 and is now at $121.56, which is 26% above that low price.
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