Akamai Technologies (AKAM) Downgraded by TheStreet to “C+”

Akamai Technologies (NASDAQ:AKAM) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Thursday.

Several other brokerages have also recently weighed in on AKAM. Guggenheim set a $74.00 price objective on shares of Akamai Technologies and gave the stock a “buy” rating in a research note on Tuesday, January 30th. B. Riley lifted their price objective on shares of Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Morgan Stanley reiterated a “sell” rating and issued a $52.00 price objective on shares of Akamai Technologies in a research note on Wednesday, December 27th. Finally, Vetr upgraded shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $71.78 price objective for the company in a research note on Monday, February 5th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.95.

Shares of Akamai Technologies (AKAM) opened at $64.13 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 2.82. The stock has a market cap of $10,570.29, a PE ratio of 51.30, a PEG ratio of 2.61 and a beta of 0.71. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $69.56.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping 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 net margin of 8.72% and a return on equity of 9.90%. Akamai Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. research analysts forecast that Akamai Technologies will post 1.87 earnings per share for the current year.

In related news, CEO F Thomson Leighton purchased 18,545 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $53.91 per share, with a total value of $999,760.95. Following the acquisition, the chief executive officer now owns 226,950 shares of the company’s stock, valued at approximately $12,234,874.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rick M. Mcconnell sold 48,369 shares of Akamai Technologies stock in a transaction that occurred 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 sale, 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 have sold a total of 61,112 shares of company stock worth $3,562,575 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in shares of Akamai Technologies by 9.0% during the 2nd 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 grew its holdings in shares of Akamai Technologies by 1.0% during the 4th 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. Suntrust Banks Inc. grew its holdings in shares of Akamai Technologies by 19.6% during the 4th quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock valued at $328,000 after purchasing an additional 829 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Akamai Technologies by 2.9% during the 4th 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. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Akamai Technologies by 19.2% during the 2nd 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. 86.52% of the stock is currently 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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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