Akamai Technologies’ (AKAM) Hold Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a report released on Thursday morning. Stifel Nicolaus currently has a $56.00 target price on the technology infrastructure company’s stock.
A number of other brokerages also recently commented on AKAM. Piper Jaffray Companies restated a buy rating and issued a $57.00 target price on shares of Akamai Technologies in a research note on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) restated a sell rating and issued a $46.00 target price (down previously from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. TheStreet downgraded Akamai Technologies from a b- rating to a c rating in a research note on Wednesday, May 31st. Instinet initiated coverage on Akamai Technologies in a research note on Thursday, May 25th. They issued a neutral rating and a $47.62 target price on the stock. Finally, Vetr upgraded Akamai Technologies from a buy rating to a strong-buy rating and set a $52.07 target price on the stock in a research note on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of Hold and a consensus price target of $61.50.
Akamai Technologies (NASDAQ AKAM) opened at 47.34 on Thursday. The stock has a 50 day moving average price of $46.50 and a 200 day moving average price of $52.73. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The company has a market cap of $8.12 billion, a P/E ratio of 27.04 and a beta of 0.64.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million for the quarter, compared to the consensus estimate of $604.51 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Akamai Technologies will post $2.52 EPS for the current fiscal year.
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In related news, Director Frederic V. Salerno purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the acquisition, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 19,817 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was bought at an average cost of $50.45 per share, with a total value of $999,767.65. Following the acquisition, the chief executive officer now owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 46,371 shares of company stock valued at $2,245,016. Insiders own 3.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased 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. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after purchasing an additional 1,032 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $119,000. Finally, FTB Advisors Inc. increased its holdings in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the last quarter. 84.45% of the stock is owned by hedge funds and other institutional investors.
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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