News coverage about Akamai Technologies (NASDAQ:AKAM) has been trending positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Akamai Technologies earned a daily sentiment score of 0.27 on Accern’s scale. Accern also gave news articles about the technology infrastructure company an impact score of 46.4971821474875 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Friday, May 4th. TheStreet raised shares of Akamai Technologies from a “c+” rating to a “b-” rating in a research report on Wednesday, May 9th. Morgan Stanley lifted their price target on shares of Akamai Technologies from $75.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. SunTrust Banks lifted their price target on shares of Akamai Technologies to $78.00 and gave the company a “hold” rating in a research report on Tuesday, May 1st. Finally, Citigroup reissued an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Akamai Technologies presently has a consensus rating of “Buy” and an average price target of $73.91.
Shares of Akamai Technologies traded down $0.75, reaching $75.34, during mid-day trading on Friday, according to Marketbeat Ratings. 1,383,059 shares of the company’s stock were exchanged, compared to its average volume of 1,794,688. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.12 and a beta of 0.63. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $78.28.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, April 30th. The technology infrastructure company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The company had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $654.37 million. Akamai Technologies had a return on equity of 10.04% and a net margin of 7.46%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. equities research analysts forecast that Akamai Technologies will post 2.45 earnings per share for the current fiscal year.
Akamai Technologies announced that its board has approved a share buyback program on Thursday, March 8th that allows the company to buyback $417.00 million in outstanding shares. This buyback authorization allows the technology infrastructure company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $70.78, for a total transaction of $283,120.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Wheaton sold 5,000 shares of Akamai Technologies stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, the insider now owns 20,007 shares in the company, valued at $1,500,525. The disclosure for this sale can be found here. Insiders have sold a total of 49,879 shares of company stock worth $3,550,397 over the last quarter. Company insiders own 3.20% of the company’s stock.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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