Time To Buy Akamai Stock?

Time To Buy Akamai Stock?

BRAZIL - 2020/05/10: In this photo illustration the Akamai Technologie logo seen displayed on a ... [+] smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)



SOPA Images/LightRocket via Getty Images

Up 30% from its low in March, we believe Akamai stock (NASDAQ: AKAM) has room for around 15% upside to levels it reached in September 2020. The company's stock trades at $104 currently and is, in fact, up just around 20% so far this year. Further, it traded at $102 in February 2020 – just before the outbreak of coronavirus – and is currently only 2% above that level, as well. Also, with the rise in online activity, the need for web server space will rise, leading to a surge in demand for Akamai's services. We believe that the stock has the potential to gain around 15% from its current levels, on the back of steady demand growth and strong Q3 2020 results. Our conclusion is based on our comparative analysis of AKAM stock performance during the current crisis with that during the 2008 recession in our interactive dashboard.

2020 Coronavirus Crisis

Timeline of 2020 Crisis So Far:



12/12/2019: Coronavirus cases