A number of other brokerages also recently issued reports on AKAM. Credit Suisse Group increased their price target on Akamai Technologies from $50.00 to $55.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Cowen and Company reiterated a hold rating and set a $59.00 price target on shares of Akamai Technologies in a research report on Friday, October 27th. Royal Bank Of Canada reiterated a sector perform rating and set a $54.00 price target (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. Piper Jaffray Companies restated a buy rating and issued a $57.00 target price on shares of Akamai Technologies in a research report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. decreased their target price on Akamai Technologies from $70.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. Akamai Technologies presently has a consensus rating of Hold and a consensus price target of $60.73.
Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.26 during mid-day trading on Tuesday, reaching $54.01. The company’s stock had a trading volume of 2,435,600 shares, compared to its average volume of 2,180,317. The stock has a market capitalization of $9,140.00, a P/E ratio of 28.00, a P/E/G ratio of 2.14 and a beta of 0.66. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.28% and a net margin of 11.84%. Akamai Technologies’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share. equities research analysts anticipate that Akamai Technologies will post 1.88 EPS for the current year.
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In other news, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction on Monday, October 30th. The stock was sold at an average price of $53.11, for a total value of $212,440.00. Following the completion of the sale, the executive vice president now directly owns 22,364 shares of the company’s stock, valued at $1,187,752.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,438 shares of company stock valued at $1,463,695. 3.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. IFM Investors Pty Ltd acquired a new stake in shares of Akamai Technologies in the third quarter valued at $262,000. Sterling Capital Management LLC grew its stake in shares of Akamai Technologies by 1.3% in the third quarter. Sterling Capital Management LLC now owns 1,439,744 shares of the technology infrastructure company’s stock valued at $70,144,000 after buying an additional 17,892 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Akamai Technologies by 1.3% in the third quarter. California Public Employees Retirement System now owns 417,053 shares of the technology infrastructure company’s stock valued at $20,319,000 after buying an additional 5,553 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Akamai Technologies by 24.8% in the third quarter. Janney Montgomery Scott LLC now owns 16,065 shares of the technology infrastructure company’s stock valued at $783,000 after buying an additional 3,197 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Akamai Technologies by 34.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,924 shares of the technology infrastructure company’s stock valued at $433,000 after buying an additional 2,304 shares in the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.
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.
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