Akamai Technologies (AKAM) Earns Buy Rating from Deutsche Bank

Deutsche Bank reiterated their buy rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research report report published on Wednesday, January 3rd. The firm currently has a $75.00 price target on the technology infrastructure company’s stock.

AKAM has been the subject of several other reports. TheStreet raised Akamai Technologies from a c rating to a b- rating in a research note on Tuesday, November 14th. Vetr raised Akamai Technologies from a buy rating to a strong-buy rating and set a $52.07 price target for the company in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed a sell rating and set a $52.00 price target on shares of Akamai Technologies in a research report on Wednesday, December 27th. Instinet reaffirmed a neutral rating and set a $47.00 price target (down from $48.00) on shares of Akamai Technologies in a research report on Tuesday, September 5th. Finally, Zacks Investment Research downgraded Akamai Technologies from a hold rating to a sell rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $63.20.

Shares of Akamai Technologies (NASDAQ AKAM) traded down $1.12 during trading on Wednesday, hitting $65.21. The company had a trading volume of 2,858,800 shares, compared to its average volume of 2,164,175. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.34. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The company has a market cap of $11,070.00, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The business 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%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. analysts predict that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.

In other news, CEO F Thomson Leighton acquired 19,670 shares of the business’s stock in a transaction on Monday, October 16th. The shares were acquired at an average cost of $50.83 per share, with a total value of $999,826.10. Following the transaction, the chief executive officer now owns 226,950 shares in the company, valued at approximately $11,535,868.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the sale, the senior vice president now directly owns 8,046 shares in the company, valued at $421,932.24. The disclosure for this sale can be found here. In the last quarter, insiders bought 55,752 shares of company stock worth $2,999,371 and sold 71,971 shares worth $4,141,642. 3.20% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC boosted its position in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $119,000. FTB Advisors Inc. boosted its position in shares of Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $209,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.

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Akamai Technologies Company Profile

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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