BidaskClub upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a strong-buy rating in a report published on Wednesday, December 20th.
Several other analysts also recently weighed in on the company. Piper Jaffray Companies restated a buy rating and issued a $60.00 price target on shares of Akamai Technologies in a research note on Wednesday, October 25th. SunTrust Banks restated a hold rating on shares of Akamai Technologies in a research note on Wednesday, October 25th. DA Davidson set a $57.00 target price on Akamai Technologies and gave the company a hold rating in a research note on Thursday, October 12th. Nomura cut their target price on Akamai Technologies from $48.00 to $47.00 and set a neutral rating on the stock in a research note on Tuesday, September 5th. Finally, Wells Fargo & Co reiterated a market perform rating and set a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Akamai Technologies has an average rating of Hold and a consensus target price of $63.20.
Akamai Technologies (AKAM) traded up $0.31 on Wednesday, reaching $65.52. The company’s stock had a trading volume of 1,083,351 shares, compared to its average volume of 2,890,000. The company has a market cap of $11,080.00, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 2.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.34.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. analysts anticipate that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.
In other news, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.29, for a total transaction of $662,900.00. Following the completion of the transaction, the insider now owns 32,319 shares in the company, valued at $2,142,426.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton purchased 17,537 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $57.01 per share, with a total value of $999,784.37. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 55,752 shares of company stock worth $2,999,371 and have sold 71,971 shares worth $4,141,642. 3.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Akamai Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock worth $824,981,000 after acquiring an additional 424,152 shares in the last quarter. First Trust Advisors LP grew its position in Akamai Technologies by 2.3% in the third quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after acquiring an additional 109,826 shares in the last quarter. Fairpointe Capital LLC grew its position in Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after acquiring an additional 981,069 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Akamai Technologies by 13.2% in the second quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock worth $115,601,000 after purchasing an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Akamai Technologies by 83.4% in the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after purchasing an additional 867,795 shares during the last quarter. Institutional investors own 86.33% of the company’s stock.
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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.
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