Analyst: Too Late To Buy Akamai

Tuesday, 5 Dec 2006 | 1:04 PM ET

Canaccord Adams analyst Mark Kelleher was on “Squawk on the Street” this morning – talking about Akamai Technologies . It’s the Nasdaq’s top performer this year – up about 150% against the index’s 10%.

Akamai owns a proprietary technology that speeds up the transfer of internet content from the provider to the end user. It’s a $9 billion company in line to general $560 million in revenue next year.

Kelleher says it’s too late to buy in to this stock. His firm has a $50 price target –and Akamai is already at $49.45. There are strong projections for 2007 – but these have already been factored into the price.

Akamai Leads NASDAQ
Akamai is the NASDAQ's best performer of 2006, with a gain of almost 150% since January. Mark Kelleher, Canaccord Adams Analyst, tells CNBC's Erin Burnett whether the tech company is a buy or sell.

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