Akamai Technologies, Inc. (AKAM) PT Set at $57.00 by DA Davidson
DA Davidson set a $57.00 target price on Akamai Technologies, Inc. (NASDAQ:AKAM) in a research note published on Thursday morning. The brokerage currently has a hold rating on the technology infrastructure company’s stock.
Other analysts have also recently issued reports about the company. B. Riley reissued a buy rating and issued a $60.00 price target on shares of Akamai Technologies in a research report on Friday, July 28th. BidaskClub cut Akamai Technologies from a strong-buy rating to a buy rating in a research report on Saturday, August 19th. Piper Jaffray Companies reissued a buy rating and issued a $57.00 price target on shares of Akamai Technologies in a research report on Wednesday, July 26th. Cowen and Company reissued a hold rating and issued a $60.00 price target on shares of Akamai Technologies in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a sector perform rating and issued a $54.00 price target (down from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $59.64.
Shares of Akamai Technologies (NASDAQ:AKAM) opened at 50.76 on Thursday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 28.99 and a beta of 0.65. The stock has a 50 day moving average price of $48.10 and a 200 day moving average price of $50.46. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly 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 analysts’ expectations of $604.51 million. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Akamai Technologies will post $2.52 EPS for the current year.
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In related news, CEO F Thomson Leighton acquired 21,554 shares of Akamai Technologies stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederic V. Salerno acquired 5,000 shares of Akamai Technologies stock in a transaction dated Thursday, July 27th. The stock was bought at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the purchase, the director now directly owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after purchasing an additional 1,032 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies in the 2nd quarter worth $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies in the 2nd quarter worth $119,000. Finally, FTB Advisors Inc. increased its stake in shares of Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.
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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