Akamai Technologies, Inc. (NASDAQ:AKAM)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a report released on Wednesday, October 25th, MarketBeat.com reports. They presently have a $70.00 price target on the technology infrastructure company’s stock, up from their prior price target of $60.00. B. Riley’s target price suggests a potential upside of 29.01% from the stock’s previous close.
The analysts wrote, “We believe the valuation discount as a result of recent issues should begin to narrow as the company makes progress on deal integration and Media stabilization. We raise our ’17/’18/’19 AEBITDA from $887MM/$914MM/$1,107MM to $923MM/$944MM/ $1,112MM. We increase our PT from $60.00 to $70.00 which is based on 10x 2019 AEBITDA (10x 2018 previously) which is a notable discount to comps at 14.0x and LLNW at 12.5x. Key Points Solid Q3 Beat.””
A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Robert W. Baird reaffirmed a “hold” rating and set a $52.00 target price on shares of Akamai Technologies in a research report on Friday, September 1st. Credit Suisse Group started coverage on shares of Akamai Technologies in a research report on Tuesday, September 5th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, DA Davidson set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $60.73.
Shares of Akamai Technologies (NASDAQ:AKAM) traded up $0.41 during trading on Wednesday, hitting $54.26. 1,976,300 shares of the stock were exchanged, compared to its average volume of 2,369,274. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.10. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $71.64. The firm has a market capitalization of $9,178.19, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Akamai Technologies’s revenue was up 6.3% compared to the same quarter last year. equities research analysts anticipate that Akamai Technologies will post 1.88 EPS for the current year.
In related news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 21,554 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 28,438 shares of company stock worth $1,463,695. 3.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in AKAM. Neuberger Berman Group LLC acquired a new position in Akamai Technologies during the 1st quarter valued at about $304,000. OppenheimerFunds Inc. lifted its position in Akamai Technologies by 15.7% during the 1st quarter. OppenheimerFunds Inc. now owns 4,454 shares of the technology infrastructure company’s stock valued at $266,000 after purchasing an additional 606 shares during the period. Teachers Advisors LLC lifted its position in Akamai Technologies by 30.6% during the 1st quarter. Teachers Advisors LLC now owns 368,457 shares of the technology infrastructure company’s stock valued at $21,997,000 after purchasing an additional 86,383 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Akamai Technologies by 5.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,033 shares of the technology infrastructure company’s stock valued at $241,000 after purchasing an additional 200 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Akamai Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 891,527 shares of the technology infrastructure company’s stock valued at $53,227,000 after purchasing an additional 6,801 shares during the period. Institutional investors own 84.41% 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.
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