Akamai Technologies, Inc. (AKAM) Price Target Increased to $55.00 by Analysts at Credit Suisse Group

Akamai Technologies, Inc. (NASDAQ:AKAM) had its target price increased by investment analysts at Credit Suisse Group from $50.00 to $55.00 in a report released on Wednesday, October 25th. The brokerage presently has a “neutral” rating on the technology infrastructure company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 1.36% from the company’s current price.

Several other equities research analysts have also issued reports on AKAM. B. Riley reissued a “buy” rating and issued a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $56.00 price objective (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Hold” and an average target price of $60.73.

Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.41 on Wednesday, hitting $54.26. 1,976,300 shares of the company traded hands, compared to its average volume of 2,369,274. The company has a quick ratio of 3.10, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $9,178.19, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.66. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. Akamai Technologies’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. equities research analysts expect that Akamai Technologies will post 1.88 earnings per share for the current fiscal year.

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In related news, SVP Aaron Ahola sold 2,893 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $52.44, for a total transaction of $151,708.92. Following the transaction, the senior vice president now owns 8,046 shares of the company’s stock, valued at $421,932.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Blumofe sold 4,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $53.11, for a total transaction of $212,440.00. Following the transaction, the executive vice president now directly owns 22,364 shares in the company, valued at approximately $1,187,752.04. The disclosure for this sale can be found here. Insiders sold 28,438 shares of company stock valued at $1,463,695 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC increased its holdings in Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 168 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares during the period. Westwood Holdings Group Inc. bought a new stake in Akamai Technologies in the 2nd quarter valued at $117,000. BB&T Investment Services Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at $119,000. Finally, FTB Advisors Inc. boosted its stake in shares of Akamai Technologies by 2.4% in the 2nd 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 in the last quarter. 84.41% of the stock is currently owned by hedge funds and other institutional investors.

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)

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