Oppenheimer Boosts Akamai Technologies (AKAM) Price Target to $80.00

Akamai Technologies (NASDAQ:AKAM) had its target price raised by Oppenheimer from $60.00 to $80.00 in a research report sent to investors on Monday, December 18th. Oppenheimer currently has an outperform rating on the technology infrastructure company’s stock.

Several other equities research analysts also recently commented on AKAM. Robert W. Baird restated a hold rating and issued a $52.00 price target on shares of Akamai Technologies in a research report on Friday, September 1st. Credit Suisse Group initiated coverage on shares of Akamai Technologies in a research report on Tuesday, September 5th. They issued a neutral rating and a $50.00 price target for the company. Instinet reiterated a neutral rating and issued a $47.00 target price (down previously from $48.00) on shares of Akamai Technologies in a research report on Tuesday, September 5th. Nomura cut their target price on shares of Akamai Technologies from $48.00 to $47.00 and set a neutral rating for the company in a research report on Tuesday, September 5th. Finally, Vetr upgraded shares of Akamai Technologies from a buy rating to a strong-buy rating and set a $52.07 target price for the company in a research report on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $63.20.

Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.31 during trading hours on Monday, reaching $65.52. 1,079,900 shares of the company were exchanged, compared to its average volume of 2,044,078. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $11,080.00, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $71.34.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million during 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%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. research analysts predict that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.

In related news, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the transaction, the insider now directly owns 32,319 shares in the company, valued at approximately $2,142,426.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton bought 17,537 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $57.01 per share, for a total transaction of $999,784.37. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 55,752 shares of company stock worth $2,999,371 and sold 71,971 shares worth $4,141,642. Company insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Akamai Technologies by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock worth $824,981,000 after purchasing an additional 424,152 shares during the last quarter. First Trust Advisors LP grew its position in Akamai Technologies by 2.3% in the 3rd quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after purchasing an additional 109,826 shares during the last quarter. Fairpointe Capital LLC grew its position in Akamai Technologies by 44.0% in the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after purchasing an additional 981,069 shares during the last quarter. King Luther Capital Management Corp grew its position in Akamai Technologies by 13.2% in the 2nd quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock worth $115,601,000 after purchasing an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in Akamai Technologies by 83.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after purchasing an additional 867,795 shares during the last quarter. Institutional investors own 86.33% of the company’s stock.

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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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