Akamai Technologies, Inc. (AKAM) Upgraded to “B-” by TheStreet

TheStreet upgraded shares of Akamai Technologies, Inc. (NASDAQ:AKAM) from a c rating to a b- rating in a research report sent to investors on Tuesday morning.

Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Akamai Technologies from a sell rating to a hold rating in a research report on Monday, October 30th. Cowen and Company restated a hold rating and set a $59.00 price target on shares of Akamai Technologies in a research report on Friday, October 27th. Credit Suisse Group boosted their price target on shares of Akamai Technologies from $50.00 to $55.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Nomura boosted their price target on shares of Akamai Technologies from $47.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG restated a buy rating and set a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. Two equities research 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 has a consensus rating of Hold and a consensus price target of $60.73.

Akamai Technologies (NASDAQ AKAM) opened at $55.44 on Tuesday. The firm has a market cap of $9,350.00, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. During the same period in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. sell-side analysts predict that Akamai Technologies will post 1.88 earnings per share for the current year.

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In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of Akamai Technologies stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the sale, the insider now directly owns 37,010 shares in the company, valued at $2,035,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton bought 18,545 shares of Akamai Technologies stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $53.91 per share, with a total value of $999,760.95. Following the completion of the purchase, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at $12,234,874.50. The disclosure for this purchase can be found here. Insiders sold 31,181 shares of company stock valued at $1,614,560 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. IFM Investors Pty Ltd acquired a new position in Akamai Technologies during the 3rd quarter valued at $262,000. Sterling Capital Management LLC raised its stake in Akamai Technologies by 1.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,439,744 shares of the technology infrastructure company’s stock valued at $70,144,000 after purchasing an additional 17,892 shares during the last quarter. California Public Employees Retirement System raised its stake in Akamai Technologies by 1.3% during the 3rd quarter. California Public Employees Retirement System now owns 417,053 shares of the technology infrastructure company’s stock valued at $20,319,000 after purchasing an additional 5,553 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Akamai Technologies by 24.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,065 shares of the technology infrastructure company’s stock valued at $783,000 after purchasing an additional 3,197 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Akamai Technologies by 34.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,924 shares of the technology infrastructure company’s stock valued at $433,000 after purchasing an additional 2,304 shares during the last quarter. Institutional investors and hedge funds own 84.30% 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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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