BidaskClub cut shares of Akamai Technologies (NASDAQ:AKAM) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.
A number of other research analysts have also recently weighed in on the stock. Vetr raised shares of Akamai Technologies from a hold rating to a buy rating and set a $68.08 price target on the stock in a research report on Tuesday. KeyCorp cut shares of Akamai Technologies from a sector weight rating to an underweight rating and reduced their price target for the company from $66.32 to $51.00 in a research report on Thursday, January 11th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $75.00 price target (up from $58.00) on shares of Akamai Technologies in a research report on Wednesday, January 10th. Zacks Investment Research cut shares of Akamai Technologies from a buy rating to a hold rating in a research report on Thursday, January 4th. Finally, Deutsche Bank reaffirmed a buy rating and set a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $63.84.
Akamai Technologies (NASDAQ AKAM) traded up $0.55 on Thursday, hitting $65.63. 1,353,601 shares of the company traded hands, compared to its average volume of 2,820,000. The firm has a market capitalization of $11,100.00, a PE ratio of 39.30, a PEG ratio of 2.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $71.34.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. research analysts expect that Akamai Technologies will post 1.89 earnings per share for the current year.
In other news, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $66.29, for a total transaction of $662,900.00. Following the transaction, the insider now directly owns 32,319 shares of the company’s stock, valued at $2,142,426.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton bought 17,537 shares of Akamai Technologies stock in a transaction dated Friday, December 15th. The shares were purchased at an average cost 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 three months, insiders have sold 71,971 shares of company stock worth $4,141,642. Corporate insiders own 3.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. FTB Advisors Inc. increased its stake in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after buying an additional 59 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares during the last quarter. People s United Financial Inc. increased its stake in shares of Akamai Technologies by 7.8% in the second quarter. People s United Financial Inc. now owns 4,822 shares of the technology infrastructure company’s stock worth $240,000 after buying an additional 348 shares during the last quarter. Norinchukin Bank The increased its stake in shares of Akamai Technologies by 6.6% in the second quarter. Norinchukin Bank The now owns 11,997 shares of the technology infrastructure company’s stock worth $598,000 after buying an additional 742 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Akamai Technologies by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock worth $5,329,000 after buying an additional 788 shares during the last quarter. Institutional investors and hedge funds own 86.36% 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.
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