Cowen and Company reissued their hold rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research report released on Friday, October 27th. The firm currently has a $59.00 target price on the technology infrastructure company’s stock.
AKAM has been the subject of several other research reports. Vetr lowered shares of Akamai Technologies from a strong-buy rating to a buy rating and set a $52.07 price objective for the company. in a research note on Wednesday, September 13th. Piper Jaffray Companies reissued a buy rating and set a $60.00 target price on shares of Akamai Technologies in a research report on Wednesday, October 25th. Wells Fargo & Company reissued a market perform rating and set a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Robert W. Baird reissued a hold rating and set a $52.00 target price on shares of Akamai Technologies in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of Akamai Technologies from a strong-buy rating to a buy rating in a research report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $60.73.
Akamai Technologies (NASDAQ AKAM) opened at $53.75 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.64. The firm has a market cap of $9,178.17, a PE ratio of 28.26, a PEG ratio of 2.16 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. sell-side analysts forecast that Akamai Technologies will post 1.88 EPS for the current fiscal year.
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In other news, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $52.44, for a total transaction of $151,708.92. Following the sale, the senior vice president now owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $53.11, for a total transaction of $212,440.00. Following the sale, the executive vice president now directly owns 22,364 shares in the company, valued at approximately $1,187,752.04. The disclosure for this sale can be found here. In the last three months, insiders sold 28,438 shares of company stock worth $1,463,695. Insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Akamai Technologies by 79.4% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after acquiring an additional 1,032 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Akamai Technologies during the second quarter worth about $117,000. BB&T Investment Services Inc. bought a new stake in Akamai Technologies during the second quarter worth about $119,000. Finally, FTB Advisors Inc. boosted its stake in Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares in the last quarter. 84.30% of the stock is currently owned by hedge funds and other institutional investors.
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.
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