Nomura Increases Akamai Technologies, Inc. (AKAM) Price Target to $50.00

Akamai Technologies, Inc. (NASDAQ:AKAM) had its price target lifted by Nomura from $47.00 to $50.00 in a research note issued to investors on Wednesday, October 25th. The firm currently has a neutral rating on the technology infrastructure company’s stock.

Several other research analysts have also weighed in on the stock. Deutsche Bank AG restated a buy rating and set a $75.00 target price on shares of Akamai Technologies in a research report on Wednesday, October 25th. SunTrust Banks, Inc. restated a hold rating on shares of Akamai Technologies in a research report on Wednesday, October 25th. Wells Fargo & Company restated a market perform rating and set a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. B. Riley reaffirmed a buy rating and issued a $70.00 price target (up previously from $60.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $60.00 price target 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 assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $60.73.

Shares of Akamai Technologies (NASDAQ:AKAM) traded up $0.41 on Wednesday, reaching $54.26. 1,976,300 shares of the company’s stock 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. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The firm has a market capitalization of $9,178.19, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.16 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the 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 company had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. sell-side analysts predict that Akamai Technologies will post 1.88 EPS for the current fiscal year.

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In other Akamai Technologies news, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,438 shares of company stock worth $1,463,695. 3.20% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in AKAM. First Trust Advisors LP increased its position in shares of Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after acquiring an additional 1,428,886 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Akamai Technologies by 5,158.8% in the second quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock worth $59,877,000 after acquiring an additional 1,179,251 shares in the last quarter. Fairpointe Capital LLC increased its position in shares of Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after acquiring an additional 981,069 shares in the last quarter. ETF Managers Group LLC acquired a new stake in shares of Akamai Technologies in the second quarter worth $45,156,000. Finally, Thrivent Financial For Lutherans increased its position in shares of Akamai Technologies by 83.4% in the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after acquiring an additional 867,795 shares in the last quarter. 84.41% of the stock is owned by institutional investors.

About Akamai Technologies

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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