Akamai Is Cool9/10/2000 8:00 PM Eastern
Witt Soundview Financial initiated coverage of Internet software developer Akamai Technologies Inc. with a "buy" rating and a price target of $85 per share. Witt Soundview predicts its 2000 losses will be $2.16 per share, growing to $2.88 per share in 2001. Akamai-"intelligent," "clever" and "cool" in Hawaiian-counts Liberty Digital Inc., the Internet investment vehicle of Liberty Media Group Inc., among large investors. Its shares rose $3.06 each to $75.56 on Aug. 31, but investors cooled to the stock in subsequent trading, knocking it back to $67.88 on Sept. 5. Akamai is
well below its 52-week high of $345.50.