Akamai Technologies (AKAM) Price Target Raised to $72.00

Akamai Technologies (NASDAQ:AKAM) had its price target increased by Robert W. Baird from $62.00 to $72.00 in a research note released on Wednesday. The brokerage currently has a neutral rating on the technology infrastructure company’s stock.

A number of other brokerages have also recently commented on AKAM. Guggenheim set a $74.00 price target on Akamai Technologies and gave the company a buy rating in a research note on Tuesday, January 30th. B. Riley upped their price target on Akamai Technologies from $70.00 to $85.00 and gave the company a buy rating in a research note on Monday, December 18th. BidaskClub cut Akamai Technologies from a strong-buy rating to a buy rating in a research note on Thursday, January 18th. Morgan Stanley reaffirmed a sell rating and issued a $52.00 price target on shares of Akamai Technologies in a research note on Wednesday, December 27th. Finally, Vetr upgraded Akamai Technologies from a buy rating to a strong-buy rating and set a $71.78 price objective for the company in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $67.84.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at $64.48 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market capitalization of $10,769.89, a PE ratio of 51.58, a PEG ratio of 2.57 and a beta of 0.71. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $69.56.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a return on equity of 9.93% and a net margin of 8.72%. Akamai Technologies’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. sell-side analysts predict that Akamai Technologies will post 1.85 earnings per share for the current year.

In other news, insider William Wheaton sold 10,000 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the sale, the insider now 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 SEC, which is available at this link. Also, insider Rick M. Mcconnell sold 2,743 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the sale, the insider now directly owns 37,010 shares of the company’s stock, valued at approximately $2,035,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,112 shares of company stock valued at $3,562,575. Insiders own 3.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NuWave Investment Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $390,000. KBC Group NV boosted its holdings in shares of Akamai Technologies by 57.8% in the 4th quarter. KBC Group NV now owns 86,786 shares of the technology infrastructure company’s stock valued at $5,645,000 after buying an additional 31,787 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Akamai Technologies by 10.2% in the 4th quarter. California Public Employees Retirement System now owns 459,688 shares of the technology infrastructure company’s stock valued at $29,898,000 after buying an additional 42,635 shares during the last quarter. CenterStar Asset Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $114,000. Finally, Nicollet Investment Management Inc. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $1,243,000. 86.52% of the stock is owned by institutional investors.

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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.

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