Akamai Technologies (AKAM) PT Raised to $78.00 at Credit Suisse Group

Akamai Technologies (NASDAQ:AKAM) had its price target lifted by analysts at Credit Suisse Group from $75.00 to $78.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the technology infrastructure company’s stock. Credit Suisse Group’s target price points to a potential upside of 24.82% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Robert W. Baird increased their target price on shares of Akamai Technologies from $62.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of Akamai Technologies to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday. KeyCorp increased their target price on shares of Akamai Technologies from $51.00 to $57.00 and gave the stock an “underweight” rating in a research note on Wednesday. Citigroup increased their target price on shares of Akamai Technologies to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, DA Davidson increased their target price on shares of Akamai Technologies from $57.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Akamai Technologies presently has a consensus rating of “Hold” and an average target price of $68.95.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at $62.49 on Wednesday. The company has a market cap of $10,906.90, a price-to-earnings ratio of 34.48, a PEG ratio of 2.60 and a beta of 0.71. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $69.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 3.01.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The business had revenue of $663.50 million for the quarter, compared to analyst estimates of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. Akamai Technologies’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. sell-side analysts anticipate that Akamai Technologies will post 1.85 earnings per share for the current year.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rick M. Mcconnell sold 48,369 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total transaction of $2,748,810.27. Following the completion of the transaction, the insider now directly owns 45,974 shares in the company, valued at $2,612,702.42. The disclosure for this sale can be found here. Insiders sold 61,112 shares of company stock worth $3,562,575 over the last ninety days. Insiders own 3.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of Akamai Technologies by 9.0% in the second 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Akamai Technologies by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after purchasing an additional 788 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Akamai Technologies by 2.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock valued at $2,135,000 after purchasing an additional 937 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Akamai Technologies by 19.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock valued at $334,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Akamai Technologies by 8.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,941 shares of the technology infrastructure company’s stock valued at $679,000 after purchasing an additional 1,098 shares during the last quarter. Institutional investors own 86.52% of the company’s stock.

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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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