Vetr Inc. Lowers Akamai Technologies, Inc. (AKAM) to Buy

Akamai Technologies, Inc. (NASDAQ:AKAM) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, September 13th. They currently have a $52.07 price target on the technology infrastructure company’s stock. Vetr‘s target price suggests a potential upside of 7.74% from the stock’s current price.

A number of other analysts have also recently commented on the company. BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Robert W. Baird reissued a “hold” rating and set a $52.00 price target on shares of Akamai Technologies in a report on Friday, September 1st. Credit Suisse Group began coverage on Akamai Technologies in a report on Tuesday, September 5th. They set a “neutral” rating and a $50.00 price target for the company. TheStreet lowered Akamai Technologies from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. Finally, Instinet reaffirmed a “neutral” rating and issued a $47.00 price objective (down previously from $48.00) on shares of Akamai Technologies in a research note on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. Akamai Technologies currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Shares of Akamai Technologies (AKAM) traded up 1.70% on Wednesday, hitting $48.33. 1,657,146 shares of the stock traded hands. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The stock has a 50 day moving average of $46.54 and a 200-day moving average of $52.35. The stock has a market cap of $8.28 billion, a PE ratio of 27.60 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Akamai Technologies will post $2.52 EPS for the current year.

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In other Akamai Technologies news, Director Frederic V. Salerno acquired 5,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was purchased at an average price of $46.83 per share, with a total value of $234,150.00. Following the transaction, the director now directly owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 21,554 shares of the stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. Insiders bought a total of 46,371 shares of company stock valued at $2,245,016 in the last three months. Insiders own 3.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of AKAM. First Trust Advisors LP raised its stake in Akamai Technologies by 41.8% in the 2nd quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after acquiring an additional 1,428,886 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Akamai Technologies by 5,158.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock valued at $59,877,000 after acquiring an additional 1,179,251 shares during the period. Fairpointe Capital LLC grew its position in shares of Akamai Technologies by 44.0% during the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after acquiring an additional 981,069 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $45,156,000. Finally, Thrivent Financial For Lutherans grew its position in shares of Akamai Technologies by 83.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock valued at $95,080,000 after acquiring an additional 867,795 shares during the period. Institutional investors own 84.49% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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