Akamai Technologies Inc. (AKAM) Receives $63.31 Average PT from Analysts
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) have earned a consensus recommendation of “Hold” from the twenty-five ratings firms that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.31.
Several analysts have issued reports on the company. B. Riley reissued a “buy” rating and set a $62.00 price target on shares of Akamai Technologies in a report on Monday, August 1st. FBR & Co raised Akamai Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $42.00 to $55.00 in a report on Wednesday, October 26th. RBC Capital Markets boosted their price target on Akamai Technologies from $59.00 to $67.00 and gave the company a “sector perform” rating in a report on Wednesday, October 26th. Wells Fargo & Co. raised Akamai Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $59.20 to $51.41 in a report on Friday, August 12th. Finally, Pacific Crest reissued a “hold” rating on shares of Akamai Technologies in a report on Tuesday, August 2nd.
Akamai Technologies (NASDAQ:AKAM) opened at 66.95 on Wednesday. The company’s 50 day moving average price is $62.84 and its 200-day moving average price is $55.80. Akamai Technologies has a one year low of $39.43 and a one year high of $71.04. The stock has a market capitalization of $11.60 billion, a PE ratio of 38.02 and a beta of 0.94.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Akamai Technologies had a return on equity of 11.61% and a net margin of 13.59%. The business earned $584.10 million during the quarter, compared to analyst estimates of $571.92 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Akamai Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that Akamai Technologies will post $2.66 earnings per share for the current year.
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In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,468 shares of Akamai Technologies stock in a transaction dated Thursday, September 15th. The shares were purchased at an average cost of $51.36 per share, for a total transaction of $999,876.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Gemmell sold 1,869 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $67.79, for a total value of $126,699.51. Following the completion of the sale, the executive vice president now owns 7,148 shares in the company, valued at $484,562.92. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its position in shares of Akamai Technologies by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 900 shares during the period. Advisory Services Network LLC boosted its position in shares of Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock valued at $102,000 after buying an additional 175 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of Akamai Technologies by 142.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,659 shares of the technology infrastructure company’s stock valued at $149,000 after buying an additional 1,562 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock valued at $154,000 after buying an additional 250 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in shares of Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock valued at $159,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 90.41% of the company’s stock.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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