Equities research analysts at Needham & Company LLC initiated coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a report released on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $95.00 price target on the technology infrastructure company’s stock. Needham & Company LLC’s target price points to a potential upside of 22.33% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Craig Hallum cut their target price on Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, January 9th. B. Riley reissued a “buy” rating and set a $102.00 target price (down previously from $105.00) on shares of Akamai Technologies in a research report on Wednesday, February 13th. Zacks Investment Research raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, February 18th. BidaskClub raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI assumed coverage on Akamai Technologies in a research report on Thursday, March 21st. They set an “in-line” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of “Buy” and a consensus target price of $81.50.

Shares of NASDAQ AKAM opened at $77.66 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. Akamai Technologies has a fifty-two week low of $57.18 and a fifty-two week high of $83.08. The stock has a market cap of $12.48 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.64 and a beta of 0.56.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The business had revenue of $713.36 million for the quarter, compared to analyst estimates of $703.74 million. During the same quarter last year, the company earned $0.69 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Akamai Technologies will post 3.13 EPS for the current year.

In other Akamai Technologies news, EVP Robert Blumofe sold 10,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $69.73, for a total transaction of $697,300.00. Following the transaction, the executive vice president now owns 18,112 shares of the company’s stock, valued at $1,262,949.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Rick M. Mcconnell sold 1,376 shares of Akamai Technologies stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $76.00, for a total value of $104,576.00. Following the transaction, the insider now directly owns 21,393 shares in the company, valued at approximately $1,625,868. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,398 shares of company stock worth $7,020,849. 2.40% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in AKAM. Pacer Advisors Inc. increased its holdings in shares of Akamai Technologies by 89.9% in the third quarter. Pacer Advisors Inc. now owns 15,954 shares of the technology infrastructure company’s stock valued at $1,167,000 after purchasing an additional 7,552 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Akamai Technologies by 18.9% in the third quarter. Advisors Asset Management Inc. now owns 10,727 shares of the technology infrastructure company’s stock valued at $785,000 after purchasing an additional 1,704 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Akamai Technologies by 9.3% in the third quarter. Mackenzie Financial Corp now owns 41,076 shares of the technology infrastructure company’s stock valued at $3,005,000 after purchasing an additional 3,498 shares during the period. Captrust Financial Advisors increased its holdings in shares of Akamai Technologies by 394.2% in the third quarter. Captrust Financial Advisors now owns 1,448 shares of the technology infrastructure company’s stock valued at $106,000 after purchasing an additional 1,155 shares during the period. Finally, Kentucky Retirement Systems acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $697,000. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

Further Reading: Why are gap-down stocks important?

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.