Cowen and Company restated their hold rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research note released on Friday. They currently have a $60.00 price target on the technology infrastructure company’s stock.

A number of other brokerages have also issued reports on AKAM. DA Davidson lowered shares of Akamai Technologies from a buy rating to a neutral rating and set a $57.00 price objective for the company. in a report on Wednesday, May 3rd. Royal Bank Of Canada reissued a sector perform rating and set a $58.00 target price (down previously from $65.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Stifel Nicolaus reissued a hold rating and set a $58.00 target price (down previously from $62.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Wells Fargo & Company downgraded shares of Akamai Technologies from an outperform rating to a market perform rating in a research report on Wednesday, May 3rd. Finally, SunTrust Banks, Inc. downgraded shares of Akamai Technologies from a buy rating to a hold rating and increased their target price for the company from $54.00 to $82.00 in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies currently has an average rating of Hold and an average target price of $62.76.

Shares of Akamai Technologies (AKAM) opened at 47.14 on Friday. Akamai Technologies has a 12 month low of $45.41 and a 12 month high of $71.64. The firm has a market cap of $8.11 billion, a PE ratio of 26.92 and a beta of 0.67. The stock’s 50 day moving average is $49.97 and its 200 day moving average is $57.26.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Analysts forecast that Akamai Technologies will post $2.52 EPS for the current fiscal year.

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In related news, Director Frederic V. Salerno acquired 5,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were acquired at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton acquired 20,397 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were bought at an average price of $49.02 per share, for a total transaction of $999,860.94. Following the completion of the purchase, the chief executive officer now owns 247,454 shares in the company, valued at approximately $12,130,195.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 66,410 shares of company stock worth $3,233,594. Company insiders own 3.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Akamai Technologies during the first quarter valued at $111,000. Whittier Trust Co. boosted its position in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position 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 buying an additional 1,032 shares during the period. SpiderRock Advisors LLC bought a new position in shares of Akamai Technologies during the first quarter valued at $145,000. Finally, Creative Planning boosted its position in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares during the period. Institutional investors and hedge funds own 87.42% of the company’s stock.

Akamai Technologies Company Profile

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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