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AKAM has a tremendous balance sheet positioning the company for growth. |
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Released on Monday, February 13, 2012, 12:30 AM ET
Pittsburgh, PA (SpeculatingStocks) - Internet companies are receiving a lot of interest on Wall Street right now with Facebook's plans to go public in May.
A company that has a lot to do with the Internet and supporting delivery of content and applications over the Internet is Akamai Technologies (NASDAQ:AKAM).
During the quarter ended September 30, 2011, AKAM did revenue of $281 million and net income of $42.2 million. AKAM has a tremendous balance sheet to take advantage of the Internet's growth. AKAM has cash and short-term investments of over $600 million and no long-term debt. AKAM's total assets exceed total liabilities by over 13 to 1.
AKAM gapped higher last week and has been uptrending since early October. AKAM is at $38.43 and has a 52-week high at $43.58.
During February, AKAM has been seeing increased attention. Akamai also helps site's stop DDoS attacks, which businesses and government agencies have been looking to fend against especially as of late. AKAM looks attractive moving forward.
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