Brokerages Set Akamai Technologies, Inc. (AKAM) Price Target at $82.71
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus recommendation of “Buy” by the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $82.71.
Several equities analysts have commented on the stock. BidaskClub upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Monday, February 18th. B. Riley reissued a “buy” rating and set a $102.00 price target (down from $105.00) on shares of Akamai Technologies in a research note on Wednesday, February 13th. Needham & Company LLC started coverage on Akamai Technologies in a research note on Monday, April 22nd. They set a “buy” rating and a $95.00 price target for the company. Finally, Craig Hallum reissued a “buy” rating and set a $92.00 price target (up from $82.00) on shares of Akamai Technologies in a research note on Wednesday, May 1st.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 22,775 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $70.88, for a total transaction of $1,614,292.00. Following the transaction, the insider now directly owns 26,533 shares in the company, valued at $1,880,659.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Blumofe sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $69.73, for a total value of $697,300.00. Following the transaction, the executive vice president now owns 18,112 shares in the company, valued at $1,262,949.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,194 shares of company stock valued at $6,935,108. 2.40% of the stock is currently owned by corporate insiders.
NASDAQ AKAM traded down $0.42 during trading on Friday, hitting $77.13. 35,786 shares of the stock traded hands, compared to its average volume of 1,268,953. The stock has a market capitalization of $12.61 billion, a PE ratio of 28.07, a P/E/G ratio of 1.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.19 and a quick ratio of 3.19. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $86.19.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million during the quarter, compared to analysts’ expectations of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. On average, analysts anticipate that Akamai Technologies will post 3.21 EPS for the current fiscal year.
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.
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