Akamai Technologies (NASDAQ:AKAM) Given a $102.00 Price Target by B. Riley Analysts
Akamai Technologies (NASDAQ:AKAM) received a $102.00 price objective from analysts at B. Riley in a report issued on Monday, TipRanks reports. The firm presently has a “buy” rating on the technology infrastructure company’s stock. B. Riley’s price target suggests a potential upside of 13.84% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Tuesday, June 25th. DA Davidson reissued a “buy” rating and set a $95.00 target price on shares of Akamai Technologies in a research note on Friday, June 14th. Guggenheim cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Piper Jaffray Companies set a $97.00 price target on shares of Akamai Technologies and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Craig Hallum set a $97.00 price target on Akamai Technologies and gave the company a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $87.81.
AKAM traded up $1.32 during trading on Monday, reaching $89.60. 1,211,856 shares of the company were exchanged, compared to its average volume of 1,302,694. The stock has a market cap of $14.57 billion, a P/E ratio of 32.46, a PEG ratio of 1.84 and a beta of 0.62. The firm has a 50 day moving average of $87.58 and a 200 day moving average of $79.28. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies has a 52 week low of $57.18 and a 52 week high of $93.12.
In other news, CFO Edward J. Mcgowan sold 3,247 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total value of $289,242.76. Following the completion of the transaction, the chief financial officer now directly owns 8,795 shares in the company, valued at $783,458.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adam Karon sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total transaction of $297,500.00. Following the transaction, the executive vice president now owns 9,418 shares in the company, valued at approximately $800,530. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Vanguard Group Inc. raised its stake in shares of Akamai Technologies by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock worth $1,372,971,000 after buying an additional 307,796 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Akamai Technologies by 5.1% during the first quarter. Clearbridge Investments LLC now owns 8,392,790 shares of the technology infrastructure company’s stock worth $601,847,000 after acquiring an additional 410,681 shares during the period. AQR Capital Management LLC grew its holdings in Akamai Technologies by 15.1% during the second quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock worth $402,178,000 after acquiring an additional 664,795 shares during the period. First Trust Advisors LP grew its holdings in Akamai Technologies by 4.1% during the first quarter. First Trust Advisors LP now owns 4,313,126 shares of the technology infrastructure company’s stock worth $309,294,000 after acquiring an additional 171,774 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Akamai Technologies by 37,980.9% in the second quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock worth $323,002,000 after acquiring an additional 4,019,896 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.
About Akamai Technologies
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.
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