Akamai Technologies (AKAM) Price Target Increased to $85.00 by Analysts at B. Riley

Akamai Technologies (NASDAQ:AKAM) had its target price boosted by B. Riley from $70.00 to $85.00 in a report issued on Monday morning. They currently have a buy rating on the technology infrastructure company’s stock.

A number of other analysts also recently issued reports on AKAM. Guggenheim raised shares of Akamai Technologies from a neutral rating to a buy rating and lifted their price objective for the stock from $53.00 to $54.00 in a report on Monday, October 2nd. SunTrust Banks reaffirmed a hold rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Thursday, December 7th. Instinet reaffirmed a neutral rating and set a $47.00 price objective on shares of Akamai Technologies in a report on Friday, October 6th. Piper Jaffray Companies reaffirmed a buy rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Akamai Technologies from a hold rating to a sell rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Akamai Technologies currently has a consensus rating of Hold and a consensus price target of $62.09.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at $65.67 on Monday. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.64. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The stock has a market cap of $9,770.20, a price-to-earnings ratio of 30.08, a PEG ratio of 2.28 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. During the same period in the previous year, the firm posted $0.68 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. research analysts predict that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.

In other news, CEO F Thomson Leighton acquired 19,670 shares of the stock in a transaction dated Monday, October 16th. The stock was purchased at an average cost of $50.83 per share, with a total value of $999,826.10. Following the completion of the purchase, the chief executive officer now owns 226,950 shares in the company, valued at approximately $11,535,868.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 55,752 shares of company stock valued at $2,999,371 and sold 89,550 shares valued at $5,026,271. Insiders own 3.20% of the company’s stock.

Several large investors have recently modified their holdings of AKAM. Alyeska Investment Group L.P. bought a new position in shares of Akamai Technologies during the third quarter valued at about $65,270,000. Janus Henderson Group PLC raised its stake in shares of Akamai Technologies by 5,158.8% during the second 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 last quarter. Fairpointe Capital LLC raised its stake in shares of Akamai Technologies by 44.0% during the second 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 last quarter. ETF Managers Group LLC purchased a new position in shares of Akamai Technologies during the second quarter valued at about $45,156,000. Finally, Thrivent Financial For Lutherans increased its position in shares of Akamai Technologies by 83.4% during the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock valued at $95,080,000 after buying an additional 867,795 shares during the period. 86.33% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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