In almost what seems to be almost a stealth mode, technology stocks have somewhat quietly gone into a correction over the past month. With earnings for all the top companies right around the corner, now may be the time for technology investors to scoop up some of the stocks that have been hit. In a new report from UBS, while they stay negative on the 3D printing stocks, which have been absolutely mauled, they point out that numerous stocks are oversold and the personal computer related companies are trading below their 200-day moving averages.
We screened the UBS IT hardware stocks list for stocks to buy now, most with earnings in the next few weeks.
This is one of the leading providers of cloud services for delivering, optimizing and securing online content and business applications. About half of Akamai Technologies Inc. (NASDAQ: AKAM) revenues are from media delivery (delivery of content over the Internet) using the company’s 135,000 server global edge network and software, for which demand is driven by video delivery and software downloads. Akamai is the leading provider of website optimization and acceleration services to e-commerce companies.
The sell-off in the shares after the most recent earnings report continues to provide investors a good entry point, as cloud security and optimization is a huge opportunity and Akamai is a leader. Security has become an increasingly important business for Akamai. During the first quarter, the company’s Cloud Security Solutions unit booked $55 million in revenue. That figure was up 82% year over year and more than 10% of the company’s total $527 million first-quarter sales.
The UBS price target for the stock is $88. The Thomson/First Call consensus price target is $76.44. Shares closed Friday at $77.84 apiece.