Piper Jaffray Companies set a $97.00 price objective on Akamai Technologies (NASDAQ:AKAM) in a research report released on Monday morning, TipRanks reports. The brokerage currently has a buy rating on the technology infrastructure company’s stock.
AKAM has been the subject of several other reports. Royal Bank of Canada set a $83.00 target price on shares of Akamai Technologies and gave the company a hold rating in a report on Wednesday, July 31st. BidaskClub upgraded shares of Akamai Technologies from a hold rating to a buy rating in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Akamai Technologies from a hold rating to a buy rating and set a $84.00 target price for the company in a report on Tuesday, June 25th. ValuEngine lowered shares of Akamai Technologies from a buy rating to a hold rating in a report on Friday, August 2nd. Finally, Evercore ISI reiterated a hold rating and set a $70.00 target price on shares of Akamai Technologies in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $87.81.
Akamai Technologies stock opened at $85.01 on Monday. The stock’s 50 day simple moving average is $84.01 and its two-hundred day simple moving average is $76.78. Akamai Technologies has a fifty-two week low of $57.18 and a fifty-two week high of $90.76. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.85 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.19 and a current ratio of 2.95.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The firm had revenue of $705.07 million during the quarter, compared to analyst estimates of $695.88 million. During the same period last year, the business earned $0.83 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post 3.29 earnings per share for the current year.
In related news, EVP Adam Karon sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $77.00, for a total value of $616,000.00. Following the completion of the transaction, the executive vice president now directly owns 16,418 shares in the company, valued at approximately $1,264,186. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 3,247 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total transaction of $289,242.76. Following the completion of the transaction, the chief financial officer now owns 8,795 shares of the company’s stock, valued at $783,458.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,247 shares of company stock valued at $1,715,963. 2.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in Akamai Technologies by 259.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,581 shares of the technology infrastructure company’s stock worth $126,000 after purchasing an additional 1,141 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Akamai Technologies by 0.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 42,139 shares of the technology infrastructure company’s stock worth $3,022,000 after purchasing an additional 377 shares during the period. Wakefield Asset Management LLLP grew its position in Akamai Technologies by 9.7% in the 1st quarter. Wakefield Asset Management LLLP now owns 33,902 shares of the technology infrastructure company’s stock worth $2,431,000 after purchasing an additional 3,007 shares during the period. Advisor Group Inc. grew its position in Akamai Technologies by 20.6% in the 1st quarter. Advisor Group Inc. now owns 56,209 shares of the technology infrastructure company’s stock worth $4,030,000 after purchasing an additional 9,617 shares during the period. Finally, S&CO Inc. bought a new stake in Akamai Technologies in the 1st quarter worth approximately $513,000. Institutional investors own 87.24% of the company’s stock.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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