Instinet reaffirmed their neutral rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research report report published on Friday, October 6th. The brokerage currently has a $47.00 target price on the technology infrastructure company’s stock.
AKAM has been the subject of a number of other research reports. 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. Goldman Sachs Group, Inc. (The) reissued a sell rating and issued a $46.00 price objective (down previously from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Stifel Nicolaus reissued a hold rating and issued a $56.00 price objective on shares of Akamai Technologies in a research report on Thursday, September 14th. Cowen and Company reissued a hold rating and issued a $61.00 price objective on shares of Akamai Technologies in a research report on Friday, July 21st. Finally, Deutsche Bank AG reissued a buy rating and issued a $70.00 price objective (down previously from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.64.
Akamai Technologies (NASDAQ:AKAM) opened at 50.58 on Friday. The stock has a market capitalization of $8.67 billion, a P/E ratio of 28.89 and a beta of 0.65. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The stock has a 50 day moving average price of $48.10 and a 200-day moving average price of $50.46.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts expect that Akamai Technologies will post $2.51 EPS for the current year.
In related news, insider William Wheaton sold 10,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton acquired 21,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. 3.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AKAM. Advisory Services Network LLC grew its position in Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 168 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Akamai Technologies in the 2nd quarter valued at about $117,000. BB&T Investment Services Inc. bought a new position in Akamai Technologies in the 2nd quarter valued at about $119,000. FTB Advisors Inc. grew its position in Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after buying an additional 59 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.
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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