Akamai Technologies, Inc. (AKAM) Given a $57.00 Price Target at Wells Fargo & Company

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given a $57.00 price objective by investment analysts at Wells Fargo & Company in a report issued on Tuesday. The brokerage presently has a “hold” rating on the technology infrastructure company’s stock. Wells Fargo & Company’s price target points to a potential upside of 11.70% from the company’s previous close.

A number of other analysts have also commented on AKAM. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $46.00 target price (down from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $70.00 target price (down from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and issued a $61.00 target price on shares of Akamai Technologies in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $59.37.

Akamai Technologies (AKAM) opened at 51.03 on Tuesday. Akamai Technologies has a 52-week low of $44.65 and a 52-week high of $71.64. The stock’s 50 day moving average price is $47.58 and its 200 day moving average price is $50.74. The firm has a market capitalization of $8.75 billion, a PE ratio of 29.14 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $2.52 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Akamai Technologies, Inc. (AKAM) Given a $57.00 Price Target at Wells Fargo & Company” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/11/akamai-technologies-akam-market-perform-rating-reaffirmed-at-wells-fargo-company.html.

In other Akamai Technologies news, CEO F Thomson Leighton bought 21,554 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic V. Salerno bought 5,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now directly owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders bought a total of 46,371 shares of company stock worth $2,245,016 in the last 90 days. Company insiders own 3.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AKAM. Advisory Services Network LLC lifted its stake in Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. lifted its stake in Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Akamai Technologies by 79.4% in the first quarter. OLD Mutual

A number of other analysts have also commented on AKAM. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $46.00 target price (down from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $70.00 target price (down from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and issued a $61.00 target price on shares of Akamai Technologies in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $59.37.

Akamai Technologies (AKAM) opened at 51.03 on Tuesday. Akamai Technologies has a 52-week low of $44.65 and a 52-week high of $71.64. The stock’s 50 day moving average price is $47.58 and its 200 day moving average price is $50.74. The firm has a market capitalization of $8.75 billion, a PE ratio of 29.14 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $2.52 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Akamai Technologies, Inc. (AKAM) Given a $57.00 Price Target at Wells Fargo & Company” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/11/akamai-technologies-akam-market-perform-rating-reaffirmed-at-wells-fargo-company.html.

In other Akamai Technologies news, CEO F Thomson Leighton bought 21,554 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic V. Salerno bought 5,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now directly owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders bought a total of 46,371 shares of company stock worth $2,245,016 in the last 90 days. Company insiders own 3.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AKAM. Advisory Services Network LLC lifted its stake in Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. lifted its stake in Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after purchasing an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply