Akamai Technologies (NASDAQ:AKAM) had its target price increased by Raymond James from $110.00 to $117.00 in a report issued on Wednesday, The Fly reports. Raymond James currently has an outperform rating on the technology infrastructure company’s stock.
A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. increased their price objective on Akamai Technologies from $110.00 to $122.00 and gave the company an overweight rating in a research report on Friday, July 10th. B. Riley increased their price objective on Akamai Technologies from $120.00 to $125.00 and gave the company a buy rating in a research report on Wednesday, April 29th. Craig Hallum increased their target price on Akamai Technologies from $115.00 to $120.00 and gave the company a buy rating in a report on Wednesday, April 29th. Credit Suisse Group increased their target price on Akamai Technologies from $95.00 to $105.00 and gave the company a neutral rating in a report on Wednesday. Finally, Evercore ISI assumed coverage on Akamai Technologies in a report on Monday, April 20th. They issued an outperform rating and a $120.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Akamai Technologies currently has a consensus rating of Buy and a consensus target price of $117.00.
Shares of NASDAQ AKAM opened at $112.44 on Wednesday. The stock has a fifty day moving average price of $108.31 and a two-hundred day moving average price of $99.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.20 and a current ratio of 3.34. The firm has a market cap of $17.93 billion, a P/E ratio of 34.07, a PEG ratio of 2.28 and a beta of 0.34. Akamai Technologies has a 1 year low of $75.18 and a 1 year high of $116.39.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 28th. The technology infrastructure company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The company had revenue of $794.72 million during the quarter, compared to the consensus estimate of $767.38 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts predict that Akamai Technologies will post 3.93 earnings per share for the current fiscal year.
In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,516 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.00, for a total transaction of $291,856.00. Following the transaction, the chief financial officer now directly owns 5,129 shares of the company’s stock, valued at $594,964. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rick M. Mcconnell sold 11,120 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the transaction, the insider now directly owns 38,747 shares in the company, valued at $3,719,712. The disclosure for this sale can be found here. Insiders have sold 37,992 shares of company stock worth $3,849,989 over the last three months. Company insiders own 2.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. National Asset Management Inc. grew its position in shares of Akamai Technologies by 64.7% in the second quarter. National Asset Management Inc. now owns 10,542 shares of the technology infrastructure company’s stock valued at $1,131,000 after purchasing an additional 4,140 shares during the last quarter. Comerica Bank grew its position in shares of Akamai Technologies by 30.4% in the second quarter. Comerica Bank now owns 61,391 shares of the technology infrastructure company’s stock valued at $6,987,000 after purchasing an additional 14,301 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Akamai Technologies in the second quarter valued at about $5,896,000. Ingalls & Snyder LLC grew its position in shares of Akamai Technologies by 0.3% in the second quarter. Ingalls & Snyder LLC now owns 45,538 shares of the technology infrastructure company’s stock valued at $4,877,000 after purchasing an additional 155 shares during the last quarter. Finally, Vivid Financial Management Inc. grew its position in shares of Akamai Technologies by 94.8% in the second quarter. Vivid Financial Management Inc. now owns 5,423 shares of the technology infrastructure company’s stock valued at $581,000 after purchasing an additional 2,639 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.
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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