UPDATE: JMP Securities Resumes Coverage On Akamai Technologies

In a note released Monday morning, JMP analyst Greg McDowell resumed coverage of Akamai Technologies, Inc. (NASDAQ: AKAM) with a Market Perform rating.

McDowell Commented, "Akamai is the undisputed leader in the Content Delivery Network market and we believe it is successfully transforming itself into an enterprise company as it enters new categories, including website acceleration, security, network operations, and hybrid cloud."

McDowell also noted Akamai is positioned to benefit from growth in internet traffic, calling it "one of the best trends in technology."

Looking to the current level, McDowell noted Akamai is inline with its peer group and feel short-term upside is limited. For now he remains on the sidelines waiting for a better entry point.