BidaskClub lowered shares of Akamai Technologies, Inc. (NASDAQ:AKAM) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
Other analysts also recently issued research reports about the stock. SunTrust Banks, Inc. downgraded shares of Akamai Technologies from a buy rating to a hold rating and increased their target price for the stock from $54.00 to $82.00 in a research report on Wednesday, May 3rd. B. Riley reissued a buy rating and set a $66.00 target price on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Nomura assumed coverage on shares of Akamai Technologies in a research report on Thursday, May 25th. They set a neutral rating and a $50.00 target price for the company. Instinet assumed coverage on shares of Akamai Technologies in a research report on Thursday, May 25th. They set a neutral rating and a $47.62 target price for the company. Finally, MKM Partners reissued a buy rating and set a $67.00 target price (down previously from $79.00) on shares of Akamai Technologies in a research report on Thursday, May 4th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. Akamai Technologies currently has an average rating of Hold and a consensus price target of $62.76.
Akamai Technologies (AKAM) opened at 44.91 on Friday. The stock has a 50 day moving average of $48.63 and a 200 day moving average of $54.95. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 25.65 and a beta of 0.66. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts expect that Akamai Technologies will post $2.52 earnings per share for the current year.
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In other news, CEO F Thomson Leighton acquired 20,397 shares of Akamai Technologies stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $49.02 per share, for a total transaction of $999,860.94. Following the completion of the purchase, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Insiders have purchased 87,964 shares of company stock worth $4,244,692 over the last 90 days. 3.20% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. DnB Asset Management AS boosted its position in shares of Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock valued at $776,000 after buying an additional 1,600 shares during the period. Bank of Montreal Can boosted its stake in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock worth $7,561,000 after buying an additional 58,293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock worth $831,000 after buying an additional 2,076 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Akamai Technologies during the first quarter worth about $230,000. Finally, Comerica Securities Inc. bought a new stake in Akamai Technologies during the first quarter worth about $321,000. Hedge funds and other institutional investors own 86.44% 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.
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