Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $61.23.
A number of research firms have commented on AKAM. Nomura initiated coverage on shares of Akamai Technologies in a report on Thursday, May 25th. They issued a “neutral” rating and a $50.00 price objective for the company. Cowen and Company restated a “hold” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Friday, July 28th. Robert W. Baird downgraded shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $55.00 in a report on Friday, May 5th. Guggenheim downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $60.00 in a report on Wednesday, May 3rd. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $54.00 price target (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th.
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Akamai Technologies (NASDAQ:AKAM) opened at 47.27 on Tuesday. The firm’s 50 day moving average price is $49.78 and its 200 day moving average price is $56.89. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 27.00 and a beta of 0.66. Akamai Technologies has a 12 month low of $45.41 and a 12 month high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. Akamai Technologies’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities research analysts predict that Akamai Technologies will post $2.52 EPS for the current fiscal year.
In other news, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average cost of $46.83 per share, with a total value of $234,150.00. Following the transaction, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO F Thomson Leighton acquired 21,196 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $47.17 per share, with a total value of $999,815.32. Following the completion of the transaction, the chief executive officer now owns 227,057 shares in the company, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 66,410 shares of company stock valued at $3,233,594. Corporate insiders own 3.20% of the company’s stock.
Large investors have recently made changes to their positions in the company. Ipswich Investment Management Co. Inc. raised its position in Akamai Technologies by 0.5% in the first quarter. Ipswich Investment Management Co. Inc. now owns 44,179 shares of the technology infrastructure company’s stock worth $2,637,000 after buying an additional 235 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock valued at $7,561,000 after buying an additional 58,293 shares during the last quarter. National Pension Service increased its stake in shares of Akamai Technologies by 1.6% in the first quarter. National Pension Service now owns 175,227 shares of the technology infrastructure company’s stock valued at $10,606,000 after buying an additional 2,790 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Akamai Technologies by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 53,958 shares of the technology infrastructure company’s stock worth $3,221,000 after buying an additional 500 shares in the last quarter. Finally, Creative Planning increased its stake in Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock worth $160,000 after buying an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 87.19% 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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