Major News Update: Akamai Technologies, Inc (NASDAQ:AKAM)

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During Wednesday’s Morning trade, Shares of Akamai Technologies, Inc (NASDAQ:AKAM), declined -19.85% to $60.51. The firm opened its current trade at $61.91, and as of now, it is trading at $60.59. The total volume traded for the day is 4.93M shares, as compared to its average daily volume of 1.64M shares. The stock is floating in a range of $60.51 $62.23. The stocks hold the market capitalization of $13.35B.

Today, Akamai Technologies, Inc. (AKAM), declared its intent to join the Internet2 NET+ initiative. Akamais Cloud Security Solutions, a comprehensive suite of security solutions counting DDoS mitigation, threat analysis, and dedicated site defense, has entered the NET+ Evaluation stage. NET+ streamlines the process and assists make it more affordable for colleges and universities to purchase cloud-based technology solutions. Akamai is at EDUCAUSE this week discussing how it can assist higher education institutions protect their online assets from DDoS and other web application threats.

Universities and other higher education institutions have been surprised to become targets for attacks, but in recentlys environment the threat is as real for them as it is for any other organization on the web, said Tom Ruff, Akamais VP of public sector. A NET+ offering would make the same technology that large enterprises use to protect their websites and applications everyday available to higher education institutions in a way thats easy to afford and implement.

DDoS attacks are on the rise and are regularly launched on higher education institutions to expose student records and hold information hostage. DDoS attacks have become a costly challenge for colleges and universities, threatening both finances and reputations. Akamai provides a technology solution designed to absorb these attacks at scale, regardless of the service providers used.

Focused on providing secure, agile and reliable user mobility in the cloud to higher educations diverse users, Internet2 NET+ is a research and education (R&E) community-driven initiative. Through a rigorous peer-driven evaluation process, R&E institutions and cloud service providers work together to develop offerings that maximize deployment efficiencies and minimize the business and legal challenges, financial costs, and technology risks of migrating from on-campus to cloud-based solutions.

Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $76.55, according to 20 brokers. The higher price target for AKAM is $91.00, while the lower price target is $59.00. In the past 52-weeks, the company shares have gained 5.93% and marked new high $78.44 on May 14, 2015.

Akamai Technologies, Inc. provides cloud services for delivering, optimizing, and securing online content and business applications in the United States and internationally.

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