Analyst Update: Akamai Technologies, Inc., Civeo Corp, and Virgin America Inc

Analysts adjusted their ratings on AKAM, CVEO, and VA

by Alex Eppstein

Published on Dec 30, 2014 at 9:20 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), energy services provider Civeo Corp (NYSE:CVEO), and airline Virgin America Inc (NASDAQ:VA). Here's a quick look at today's brokerage notes on AKAM, CVEO, and VA.

  • AKAM saw its price target boosted to $86 from $72 at D.A. Davidson, which also restated its "buy" opinion. The positive note is well-deserved, as the shares have advanced more than 35% in 2014 to rest at $63.79. Not surprisingly, most of the brokerage bunch is already behind Akamai Technologies, Inc. Fifteen of 19 covering analysts rate the stock a "strong buy," compared to four "holds" and not a single "sell." Plus, AKAM's consensus 12-month price target of $68.53 stands in territory not charted since September 2000.

  • CVEO's price target was slashed to $6 from $10 at Susquehanna, which reiterated its "neutral" rating, as well. This development follows the company's decision to suspend its quarterly dividend payments and cut its workforce, while reducing its first-quarter and full-year revenue forecasts -- which has the shares down 40% ahead of the bell. It's already been a tough few months for Civeo Corp, which has shed 63.7% of its value since separating from Oil States International, Inc. (NYSE:OIS) in early June, to sit at $8.27. Meanwhile, bearish betting has picked up on Civeo Corp in the last couple weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio has spiked to 5.27 from 1.00 at the end of November.

  • VA -- which has outperformed since going public in mid-November, advancing 57.5% to trade at $42.53 -- had its price target boosted to $53 from $42 at Cowen and Company. The brokerage firm likewise reaffirmed its "outperform" assessment. Given Virgin America Inc's technical track record, it shouldn't come as a shock to see optimism throughout the Street. Eighty percent of covering analysts rate the shares a "strong buy," with not one dubbing it a "sell." Also, during the last two weeks at the ISE, CBOE, and PHLX, traders have bought to open more than 11 VA calls for every put.

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