Credit Suisse Group upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a neutral rating to an outperform rating in a research note issued to investors on Monday, December 18th, MarketBeat.com reports. The brokerage currently has $75.00 price target on the technology infrastructure company’s stock.
Several other equities research analysts have also weighed in on the company. TheStreet raised Akamai Technologies from a c rating to a b- rating in a research report on Tuesday, November 14th. Vetr lowered Akamai Technologies from a strong-buy rating to a buy rating and set a $52.07 target price on the stock. in a research report on Wednesday, September 13th. B. Riley reaffirmed a buy rating and issued a $66.00 target price on shares of Akamai Technologies in a research report on Thursday, October 12th. Guggenheim raised Akamai Technologies from a neutral rating to a buy rating and increased their target price for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $60.00 target price on shares of Akamai Technologies in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $63.20.
Shares of Akamai Technologies (NASDAQ:AKAM) traded down $1.12 on Monday, hitting $65.21. The company’s stock had a trading volume of 2,858,864 shares, compared to its average volume of 2,880,000. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The firm has a market cap of $11,030.00, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The company 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. analysts anticipate that Akamai Technologies will post 1.89 earnings per share for the current year.
In related news, CEO F Thomson Leighton purchased 19,670 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was acquired at an average price of $50.83 per share, for a total transaction of $999,826.10. Following the transaction, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at approximately $11,535,868.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now owns 22,364 shares of the company’s stock, valued at approximately $1,187,752.04. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 55,752 shares of company stock valued at $2,999,371 and have sold 71,971 shares valued at $4,141,642. Company insiders own 3.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AKAM. Canada Pension Plan Investment Board lifted its stake in Akamai Technologies by 198.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 41,238 shares of the technology infrastructure company’s stock worth $2,054,000 after acquiring an additional 27,412 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Akamai Technologies by 20.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 657,615 shares of the technology infrastructure company’s stock worth $32,756,000 after acquiring an additional 111,630 shares in the last quarter. Denver Investment Advisors LLC raised its stake in shares of Akamai Technologies by 70.6% during the 2nd quarter. Denver Investment Advisors LLC now owns 5,850 shares of the technology infrastructure company’s stock worth $291,000 after purchasing an additional 2,420 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Akamai Technologies by 30.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 229,787 shares of the technology infrastructure company’s stock worth $11,446,000 after purchasing an additional 53,077 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Akamai Technologies during the 2nd quarter worth about $16,495,000. 86.33% of the stock is owned by hedge funds and other institutional investors.
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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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