Investors Look For Buy Level As Akamai Technologies Slammed On Earnings

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) took a beating after reporting earnings earnings. While earnings and revenue beat expectations, the company did not raise guidance and talked about increasing costs. Investors do not like to hear that costs are going up. The stock was down as much as 13.5% today, though is trading slightly off the lows. Investors should look at the $59 level as a buying opportunity. There is major technical support at that price. In addition, the company did beat earnings and revenue and held guidance steady, so it is not like growth is slowing.

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