Akamai Technologies (NASDAQ:AKAM) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $68.08 target price on the technology infrastructure company’s stock. Vetr‘s price target would suggest a potential upside of 3.73% from the company’s previous close.
A number of other research firms have also recently weighed in on AKAM. BidaskClub cut Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $54.00 in a research report on Monday, October 2nd. KeyCorp cut Akamai Technologies from a “sector weight” rating to an “underweight” rating and lowered their price objective for the company from $66.32 to $51.00 in a research report on Thursday, January 11th. B. Riley reaffirmed a “buy” rating and set a $70.00 price objective (up from $60.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $75.00 price objective on shares of Akamai Technologies in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $63.84.
Akamai Technologies (NASDAQ AKAM) opened at $65.63 on Monday. The stock has a market capitalization of $11,100.00, a PE ratio of 39.30, a price-to-earnings-growth ratio of 2.65 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 12-month low of $44.65 and a 12-month high of $71.34.
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, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. equities analysts anticipate that Akamai Technologies will post 1.89 EPS for the current fiscal year.
In other Akamai Technologies news, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.11, for a total value of $212,440.00. Following the sale, the executive vice president now owns 22,364 shares of the company’s stock, valued at approximately $1,187,752.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rick M. Mcconnell sold 3,966 shares of Akamai Technologies stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 39,753 shares in the company, valued at approximately $2,154,215.07. The disclosure for this sale can be found here. Insiders have sold a total of 71,971 shares of company stock worth $4,141,642 in the last three months. 3.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in Akamai Technologies by 3.9% in the 3rd quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock worth $41,155,000 after acquiring an additional 31,911 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Akamai Technologies by 23.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock valued at $39,416,000 after purchasing an additional 151,399 shares during the last quarter. Carret Asset Management LLC increased its position in shares of Akamai Technologies by 17.3% during the 3rd quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock valued at $709,000 after purchasing an additional 2,150 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Akamai Technologies by 2.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock valued at $15,205,000 after purchasing an additional 7,327 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $367,000. 86.36% 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.
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