Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities researchers at Piper Jaffray Companies raised their Q2 2020 earnings per share (EPS) estimates for Akamai Technologies in a report issued on Monday, December 2nd. Piper Jaffray Companies analyst J. Fish now forecasts that the technology infrastructure company will post earnings of $0.91 per share for the quarter, up from their prior forecast of $0.89. Piper Jaffray Companies currently has a “Overweight” rating and a $103.00 target price on the stock. Piper Jaffray Companies also issued estimates for Akamai Technologies’ Q1 2021 earnings at $1.00 EPS.
Several other equities research analysts have also recently commented on the company. B. Riley raised their target price on Akamai Technologies from $102.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley increased their price target on Akamai Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. FBN Securities increased their price target on Akamai Technologies from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. DA Davidson raised their price objective on shares of Akamai Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, ValuEngine lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $92.19.
Shares of NASDAQ:AKAM opened at $85.62 on Tuesday. Akamai Technologies has a 1 year low of $57.18 and a 1 year high of $93.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.74 and a quick ratio of 3.74. The business’s 50-day moving average is $87.99 and its 200-day moving average is $85.26. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 2.11 and a beta of 0.59.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The business had revenue of $709.91 million during the quarter, compared to the consensus estimate of $701.25 million. During the same quarter last year, the firm earned $0.94 earnings per share. Akamai Technologies’s quarterly revenue was up 6.0% on a year-over-year basis.
In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $90.24, for a total value of $281,278.08. Following the transaction, the executive vice president now directly owns 4,109 shares of the company’s stock, valued at $370,796.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ewout L. Steenbergen sold 1,760 shares of Akamai Technologies stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $251.19, for a total transaction of $442,094.40. Insiders sold 49,004 shares of company stock valued at $4,567,719 in the last three months. Insiders own 2.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Akamai Technologies by 11.3% during the second quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock worth $91,000 after acquiring an additional 115 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Akamai Technologies by 1.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,206 shares of the technology infrastructure company’s stock worth $1,024,000 after buying an additional 130 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Akamai Technologies by 8.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,760 shares of the technology infrastructure company’s stock worth $161,000 after buying an additional 130 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Akamai Technologies by 2.5% in the 3rd quarter. LS Investment Advisors LLC now owns 6,303 shares of the technology infrastructure company’s stock worth $576,000 after buying an additional 151 shares during the last quarter. Finally, We Are One Seven LLC grew its position in Akamai Technologies by 4.0% during the third quarter. We Are One Seven LLC now owns 4,036 shares of the technology infrastructure company’s stock valued at $369,000 after buying an additional 156 shares during the period. 88.89% of the stock is owned by institutional investors.
About Akamai Technologies
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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