Akamai Technologies (NASDAQ:AKAM) had its price target lowered by Deutsche Bank from $73.00 to $66.00 in a research report released on Tuesday. The firm currently has a hold rating on the technology infrastructure company’s stock.
Other equities research analysts have also recently issued reports about the stock. B. Riley decreased their price objective on shares of Akamai Technologies from $99.00 to $97.00 and set a $79.75 rating for the company in a research report on Monday, July 23rd. Piper Jaffray Companies reiterated a buy rating on shares of Akamai Technologies in a research report on Monday, October 1st. ValuEngine upgraded shares of Akamai Technologies from a hold rating to a buy rating in a research report on Wednesday, July 25th. DA Davidson upgraded shares of Akamai Technologies from a neutral rating to a buy rating and increased their price objective for the stock from $82.00 to $93.00 in a research report on Monday, September 10th. Finally, SunTrust Banks upgraded shares of Akamai Technologies from a hold rating to a buy rating and raised their price target for the stock from $78.00 to $82.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Akamai Technologies has an average rating of Buy and a consensus price target of $80.29.
Shares of AKAM traded up $0.10 during trading hours on Tuesday, hitting $72.39. 35,403 shares of the stock were exchanged, compared to its average volume of 2,543,700. Akamai Technologies has a fifty-two week low of $51.79 and a fifty-two week high of $83.08. The company has a quick ratio of 2.19, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The stock has a market cap of $12.30 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 2.01 and a beta of 0.47.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Akamai Technologies had a net margin of 8.39% and a return on equity of 12.06%. The company had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $664.17 million. During the same period in the prior year, the company posted $0.62 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies will post 2.51 EPS for the current fiscal year.
Akamai Technologies announced that its board has approved a share repurchase program on Monday, October 29th that authorizes the company to repurchase $1.10 billion in shares. This repurchase authorization authorizes the technology infrastructure company to purchase up to 10.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
In other Akamai Technologies news, SVP Aaron Ahola sold 1,123 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $73.63, for a total value of $82,686.49. Following the transaction, the senior vice president now directly owns 4,035 shares of the company’s stock, valued at $297,097.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Sagan sold 39,092 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $75.19, for a total transaction of $2,939,327.48. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. GAM Holding AG lifted its stake in shares of Akamai Technologies by 4.1% in the second quarter. GAM Holding AG now owns 16,527 shares of the technology infrastructure company’s stock valued at $1,210,000 after buying an additional 651 shares in the last quarter. Oakbrook Investments LLC lifted its stake in shares of Akamai Technologies by 5.5% in the second quarter. Oakbrook Investments LLC now owns 13,470 shares of the technology infrastructure company’s stock valued at $986,000 after buying an additional 700 shares in the last quarter. Atria Investments LLC lifted its stake in shares of Akamai Technologies by 13.2% in the second quarter. Atria Investments LLC now owns 6,139 shares of the technology infrastructure company’s stock valued at $450,000 after buying an additional 716 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of Akamai Technologies by 18.5% in the second quarter. Wedbush Securities Inc. now owns 4,710 shares of the technology infrastructure company’s stock valued at $345,000 after buying an additional 735 shares in the last quarter. Finally, XR Securities LLC lifted its stake in shares of Akamai Technologies by 24.9% in the third quarter. XR Securities LLC now owns 3,805 shares of the technology infrastructure company’s stock valued at $278,000 after buying an additional 758 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.
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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