Akamai Technologies, Allegiant, Strayer Education Downgraded

Akamai Technologies, Allegiant, and Strayer Education stocks received bearish analyst attention

Alex Eppstein
Apr 12, 2017 at 9:53 AM
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Analysts are weighing in on tech stock Akamai Technologies, Inc. (NASDAQ:AKAM), airline Allegiant Travel Company (NASDAQ:ALGT), and for-profit college operator Strayer Education Inc (NASDAQ:STRA). Here's a quick roundup of today's bearish brokerage notes on shares of AKAM, ALGT, and STRA.

Akamai Technologies Retreats on Price-Target Cut

AKAM saw its price target trimmed to $56 from $58 at Craig-Hallum. Out of the gate, the stock is down 0.5% at $58.74, and has lost 18% since topping out at $71.64 on Jan. 11. That hasn't stopped options traders from placing bullish bets on Akamai Technologies, Inc. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open nearly triple the number of calls as puts in the past two weeks. The resultant call/put volume ratio of 2.93 ranks in the bullishly skewed 72nd percentile of its 12-month range.

Allegiant Receives Another Bearish Brokerage Note

ALGT stock was hit with a price-target cut to $170 from $182 at Imperial Capital. The bearish note is well-deserved, considering the shares have been stair-stepping lower in 2017, and were last seen off 0.3% at $154.25. Analyst pessimism toward Allegiant Travel Company is far from unusual. In fact, two-thirds of the stock's covering brokerage firms have dished out either a "hold" or a "strong sell" rating. 

BMO Trims Price Target on Strayer Education Stock

BMO reduced its price target on STRA stock to $86 from $88. Yet, this new outlook sits in waters not explored since July 2012. In early trade, Strayer Education Inc shares have given back 0.4% to hover at $78.67. More broadly speaking, though, after a rapid rise in late 2016, the stock has been consolidating in the $72-$80 range for most of 2017. Meanwhile, short sellers are banking on steeper losses for the shares, with nearly 8% of STRA stock's float sold short -- 10 times the average daily trading volume.


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