Akamai Technologies (NASDAQ:AKAM) Downgraded by ValuEngine to “Sell”

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ValuEngine cut shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a sell rating in a research report sent to investors on Tuesday, ValuEngine reports.

AKAM has been the topic of several other research reports. B. Riley boosted their price objective on Akamai Technologies from $102.00 to $111.00 and gave the stock a buy rating in a research report on Friday, October 25th. Tigress Financial reaffirmed a buy rating on shares of Akamai Technologies in a research report on Monday, September 23rd. Needham & Company LLC reaffirmed a buy rating and set a $95.00 target price on shares of Akamai Technologies in a research report on Monday, October 28th. Piper Jaffray Companies reiterated an overweight rating and set a $103.00 target price (up from $97.00) on shares of Akamai Technologies in a research note on Tuesday, October 29th. Finally, Morgan Stanley boosted their price target on shares of Akamai Technologies from $96.00 to $103.00 and gave the stock an overweight rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Akamai Technologies has an average rating of Hold and an average price target of $92.19.

AKAM opened at $85.92 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.74 and a quick ratio of 3.74. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 2.11 and a beta of 0.59. The firm’s fifty day moving average price is $87.92 and its two-hundred day moving average price is $85.31. Akamai Technologies has a 1 year low of $57.18 and a 1 year high of $93.12.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.10. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The company had revenue of $709.91 million during the quarter, compared to the consensus estimate of $701.25 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that Akamai Technologies will post 3.44 EPS for the current year.

In related news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $87.74, for a total value of $2,198,939.88. Following the sale, the director now directly owns 25,062 shares in the company, valued at approximately $2,198,939.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aaron Ahola sold 3,117 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $90.24, for a total transaction of $281,278.08. Following the sale, the executive vice president now directly owns 4,109 shares in the company, valued at $370,796.16. The disclosure for this sale can be found here. Insiders have sold a total of 49,004 shares of company stock worth $4,567,719 in the last ninety days. Insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. Vanguard Group Inc. increased its holdings in Akamai Technologies by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock worth $1,372,971,000 after acquiring an additional 307,796 shares during the period. AQR Capital Management LLC raised its holdings in shares of Akamai Technologies by 15.1% during the 2nd quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock valued at $402,178,000 after buying an additional 664,795 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Akamai Technologies by 37,980.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock valued at $323,002,000 after buying an additional 4,019,896 shares in the last quarter. First Trust Advisors LP lifted its position in Akamai Technologies by 4.5% in the 3rd quarter. First Trust Advisors LP now owns 3,349,387 shares of the technology infrastructure company’s stock worth $306,067,000 after buying an additional 143,955 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its position in Akamai Technologies by 6.9% in the 2nd quarter. King Luther Capital Management Corp now owns 2,454,832 shares of the technology infrastructure company’s stock worth $196,730,000 after buying an additional 158,181 shares during the last quarter. Hedge funds and other institutional investors own 88.89% 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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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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