Analysts Set Akamai Technologies, Inc. (AKAM) Target Price at $65.29
Akamai Technologies, Inc. (NASDAQ:AKAM) has received an average recommendation of “Hold” from the twenty-seven research firms that are covering the stock. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $63.56.
Several research analysts have recently commented on AKAM shares. B. Riley reissued a “buy” rating and set a $71.00 price objective on shares of Akamai Technologies in a report on Friday, March 31st. Nomura assumed coverage on Akamai Technologies in a report on Thursday. They issued a “neutral” rating and a $50.00 target price for the company. FBR & Co restated a “hold” rating and set a $59.00 price objective on shares of Akamai Technologies in a report on Wednesday, February 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $74.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 8th. Finally, Robert W. Baird downgraded Akamai Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Friday, May 5th.
Akamai Technologies (NASDAQ:AKAM) traded up 0.88% during mid-day trading on Monday, hitting $48.04. The stock had a trading volume of 441,663 shares. Akamai Technologies has a one year low of $46.90 and a one year high of $71.64. The firm’s 50-day moving average is $55.14 and its 200 day moving average is $63.09. The stock has a market cap of $8.30 billion, a PE ratio of 26.25 and a beta of 0.95.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $609.24 million during the quarter, compared to analysts’ expectations of $604.94 million. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. Equities research analysts expect that Akamai Technologies will post $2.56 EPS for the current year.
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In other news, EVP Melanie Haratunian sold 2,591 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $62.80, for a total value of $162,714.80. Following the completion of the transaction, the executive vice president now directly owns 80,785 shares of the company’s stock, valued at approximately $5,073,298. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven Scopellite sold 22,290 shares of the business’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $65.89, for a total value of $1,468,688.10. Following the completion of the transaction, the director now directly owns 22,290 shares of the company’s stock, valued at $1,468,688.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,999 shares of company stock valued at $7,813,255. 2.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AKAM. Advantage Investment Management LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $105,000. Advisory Services Network LLC purchased a new position in shares of Akamai Technologies during the first quarter worth approximately $111,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Akamai Technologies during the fourth quarter worth approximately $134,000. Acrospire Investment Management LLC boosted its position in shares of Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in shares of Akamai Technologies during the fourth quarter worth approximately $140,000. 91.07% of the stock is currently owned by institutional investors.
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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