BEN Z. ROSE
Battle Road Research: Cloud Computing Cast away? The Curious Case of Akamai
Against the backdrop of subdued Wall Street sentiment toward Akamai Technologies (NASDAQ: AKAM), Battle Road Research analyst Matthew Galinko upgraded the internet services provider from HOLD to BUY at a share price of $22.50 on June 15, 2009. Although Akamai was out‐of‐favor at the time among the 20 Wall Street analysts who covered it, Battle Road perceived fears over a looming price war were exaggerated, and in fact, little evidence to suggest that competitors were gaining ground against it.