Akamai Technologies, Inc. (AKAM) Receives Average Recommendation of “Hold” from Brokerages
Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.72.
A number of equities research analysts have commented on AKAM shares. Wells Fargo & Company set a $57.00 price target on Akamai Technologies and gave the company a “hold” rating in a research report on Tuesday, October 10th. B. Riley reiterated a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research report on Thursday, October 12th. Credit Suisse Group upped their price target on Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $57.00 price target on shares of Akamai Technologies in a research report on Wednesday, July 26th. Finally, Nomura upped their price target on Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th.
Shares of Akamai Technologies (NASDAQ:AKAM) traded up $0.41 during mid-day trading on Monday, reaching $54.26. The company had a trading volume of 1,976,300 shares, compared to its average volume of 2,177,601. The company has a market cap of $9,080.00, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.16 and a beta of 0.66. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $71.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. Akamai Technologies’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. sell-side analysts anticipate that Akamai Technologies will post 1.88 earnings per share for the current fiscal year.
In other news, CEO F Thomson Leighton acquired 21,554 shares of Akamai Technologies stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Blumofe sold 4,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.11, for a total value of $212,440.00. Following the transaction, the executive vice president now directly owns 22,364 shares of the company’s stock, valued at $1,187,752.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,438 shares of company stock valued at $1,463,695. 3.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Advisory Services Network LLC lifted its position in shares of Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth $119,000. FTB Advisors Inc. lifted its position in shares of Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares in the last quarter. Finally, Tobam purchased a new stake in shares of Akamai Technologies during the second quarter worth $153,000. Hedge funds and other institutional investors own 84.30% 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.
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