Akamai Technologies (AKAM) Upgraded by Craig Hallum to Buy

Craig Hallum upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a report published on Tuesday morning.

Several other research analysts have also commented on AKAM. Robert W. Baird reiterated a hold rating and set a $52.00 price objective on shares of Akamai Technologies in a research note on Friday, September 1st. Credit Suisse Group initiated coverage on shares of Akamai Technologies in a research note on Tuesday, September 5th. They set a neutral rating and a $50.00 price objective for the company. Instinet reiterated a neutral rating and set a $47.00 price objective (down previously from $48.00) on shares of Akamai Technologies in a research note on Tuesday, September 5th. Nomura reduced their price objective on shares of Akamai Technologies from $48.00 to $47.00 and set a neutral rating for the company in a research note on Tuesday, September 5th. Finally, Vetr upgraded shares of Akamai Technologies from a buy rating to a strong-buy rating and set a $52.07 price objective for the company in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $62.87.

Akamai Technologies (NASDAQ:AKAM) traded up $0.26 during midday trading on Tuesday, hitting $67.08. 827,678 shares of the company traded hands, compared to its average volume of 2,280,125. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market cap of $11,108.19, a price-to-earnings ratio of 34.20, a PEG ratio of 2.60 and a beta of 0.68. 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 quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million during 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%. Akamai Technologies’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. analysts anticipate that Akamai Technologies will post 1.89 EPS for the current year.

In other news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the sale, the insider now directly owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton acquired 19,670 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was acquired at an average cost of $50.83 per share, for a total transaction of $999,826.10. Following the completion of the acquisition, the chief executive officer now directly owns 226,950 shares in the company, valued at $11,535,868.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 55,752 shares of company stock worth $2,999,371 and have sold 89,550 shares worth $5,026,271. 3.20% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Akamai Technologies by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after acquiring an additional 424,152 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Akamai Technologies by 2.3% in the 3rd quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock valued at $241,610,000 after acquiring an additional 109,826 shares during the last quarter. Fairpointe Capital LLC boosted its holdings in shares of Akamai Technologies by 44.0% in 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 last quarter. King Luther Capital Management Corp boosted its holdings in shares of Akamai Technologies by 13.2% in the 2nd quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock valued at $115,601,000 after acquiring an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Akamai Technologies by 83.4% in 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 last quarter. 86.33% of the stock is currently owned by institutional investors and hedge funds.

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About Akamai Technologies

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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