Stifel Nicolaus Reiterates Hold Rating for Akamai Technologies, Inc. (AKAM)
Stifel Nicolaus reiterated their hold rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research note issued to investors on Wednesday. Stifel Nicolaus currently has a $56.00 price target on the technology infrastructure company’s stock, down from their previous price target of $58.00.
Other research analysts have also recently issued research reports about the company. SunTrust Banks, Inc. cut Akamai Technologies from a buy rating to a hold rating and upped their target price for the company from $54.00 to $82.00 in a research note on Wednesday, May 3rd. B. Riley reiterated a buy rating and issued a $71.00 price target on shares of Akamai Technologies in a report on Wednesday, April 5th. Royal Bank Of Canada reiterated a hold rating and issued a $65.00 price target on shares of Akamai Technologies in a report on Friday, March 31st. MKM Partners reiterated a buy rating and issued a $79.00 price target on shares of Akamai Technologies in a report on Monday, April 3rd. Finally, Nomura started coverage on Akamai Technologies in a report on Thursday, May 25th. They issued a neutral rating and a $50.00 price target for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $62.76.
Akamai Technologies (NASDAQ:AKAM) opened at 46.89 on Wednesday. The stock has a 50 day moving average price of $49.99 and a 200-day moving average price of $57.61. The stock has a market cap of $8.07 billion, a PE ratio of 26.78 and a beta of 0.67. Akamai Technologies has a 1-year low of $45.41 and a 1-year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, equities analysts expect that Akamai Technologies will post $2.52 EPS for the current year.
In other Akamai Technologies news, CEO F Thomson Leighton purchased 21,196 shares of Akamai Technologies stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $47.17 per share, with a total value of $999,815.32. Following the completion of the transaction, the chief executive officer now owns 227,057 shares in the company, valued at approximately $10,710,278.69. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 66,410 shares of company stock worth $3,233,594. Insiders own 3.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock valued at $963,462,000 after buying an additional 476,166 shares during the last quarter. Clearbridge Investments LLC increased its position in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after buying an additional 717,811 shares during the last quarter. First Trust Advisors LP increased its position in Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock valued at $204,200,000 after buying an additional 560,932 shares during the last quarter. Ameriprise Financial Inc. increased its position in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock valued at $203,324,000 after buying an additional 780,019 shares during the last quarter. Finally, Blue Harbour Group L.P. increased its position in Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock valued at $170,473,000 after buying an additional 381,300 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.
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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