ValuEngine downgraded shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a report released on Friday, ValuEngine reports.
Other equities analysts have also recently issued research reports about the company. Nomura upped their price target on Akamai Technologies from $75.00 to $81.00 and gave the company a neutral rating in a report on Wednesday. Piper Jaffray Companies set a $97.00 price target on Akamai Technologies and gave the company a buy rating in a report on Wednesday. Morgan Stanley upped their price target on Akamai Technologies from $94.00 to $96.00 and gave the company an overweight rating in a report on Wednesday. Royal Bank of Canada set a $83.00 price target on Akamai Technologies and gave the company a hold rating in a report on Wednesday. Finally, KeyCorp upped their price target on Akamai Technologies from $80.00 to $91.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $87.81.
Shares of NASDAQ AKAM traded down $1.79 during trading hours on Friday, hitting $88.32. 1,730,401 shares of the company’s stock were exchanged, compared to its average volume of 1,116,764. Akamai Technologies has a 1-year low of $57.18 and a 1-year high of $90.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 3.19. The stock has a market cap of $14.49 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.62. The firm has a 50-day moving average of $81.69.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The business had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts predict that Akamai Technologies will post 3.23 earnings per share for the current year.
In other news, Director Frederic V. Salerno sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $77.74, for a total value of $233,220.00. Following the sale, the director now directly owns 68,919 shares in the company, valued at approximately $5,357,763.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Adam Karon sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $77.00, for a total value of $616,000.00. Following the completion of the sale, the executive vice president now owns 16,418 shares in the company, valued at $1,264,186. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,247 shares of company stock worth $1,715,963. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Akamai Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,150,566 shares of the technology infrastructure company’s stock valued at $131,125,000 after acquiring an additional 43,330 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $271,000. First Allied Advisory Services Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $221,000. Norges Bank acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $100,218,000. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Akamai Technologies by 12.3% in the fourth quarter. Belpointe Asset Management LLC now owns 1,730 shares of the technology infrastructure company’s stock valued at $106,000 after acquiring an additional 190 shares during the period. Institutional investors own 87.72% 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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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