Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target Raised to $55.00 at Credit Suisse Group

Akamai Technologies, Inc. (NASDAQ:AKAM) had its price target increased by equities research analysts at Credit Suisse Group from $50.00 to $55.00 in a research note issued to investors on Wednesday, October 25th. The brokerage currently has a “neutral” rating on the technology infrastructure company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 1.36% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Nomura increased their price target on Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Deutsche Bank AG reissued a “buy” rating and issued a $75.00 price target on shares of Akamai Technologies in a research note on Wednesday, October 25th. SunTrust Banks, Inc. reissued a “hold” rating on shares of Akamai Technologies in a research note on Wednesday, October 25th. Wells Fargo & Company reissued a “market perform” rating and issued a $62.00 price target (up previously from $57.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Finally, B. Riley reissued a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Two equities 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’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.73.

Akamai Technologies (NASDAQ AKAM) traded up $0.41 during trading on Wednesday, reaching $54.26. The company’s stock had a trading volume of 1,976,300 shares, compared to its average volume of 2,177,601. The company has a quick ratio of 3.10, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $9,108.82, a P/E ratio of 28.05, a PEG ratio of 2.14 and a beta of 0.66. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. equities research analysts forecast that Akamai Technologies will post 1.88 EPS for the current year.

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In other Akamai Technologies news, CEO F Thomson Leighton purchased 21,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 3,966 shares of Akamai Technologies stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $54.19, for a total value of $214,917.54. Following the sale, the insider now owns 39,753 shares in the company, valued at $2,154,215.07. The disclosure for this sale can be found here. Insiders sold 28,438 shares of company stock worth $1,463,695 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its position in Akamai Technologies by 2.8% in the second quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock worth $31,446,000 after buying an additional 17,300 shares during the last quarter. FIL Ltd increased its position in Akamai Technologies by 63.5% in the second quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock worth $92,609,000 after buying an additional 722,170 shares during the last quarter. Globeflex Capital L P increased its position in Akamai Technologies by 79.2% in the second quarter. Globeflex Capital L P now owns 32,800 shares of the technology infrastructure company’s stock worth $1,634,000 after buying an additional 14,500 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Akamai Technologies by 12.4% in the second quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock worth $1,957,000 after buying an additional 4,340 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Akamai Technologies by 6.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock worth $25,328,000 after buying an additional 29,082 shares during the last quarter. Institutional investors and hedge funds own 84.41% 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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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