Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $63.51
Akamai Technologies, Inc. (NASDAQ:AKAM) has received an average recommendation of “Hold” from the twenty-nine research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.51.
A number of equities analysts have recently commented on AKAM shares. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $68.00 to $54.00 in a report on Thursday, April 27th. Drexel Hamilton started coverage on shares of Akamai Technologies in a report on Tuesday, March 21st. They set a “buy” rating and a $90.00 price objective for the company. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Guggenheim downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $60.00 in a report on Wednesday, May 3rd. Finally, Zacks Investment Research raised shares of Akamai Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 11th.
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Shares of Akamai Technologies (NASDAQ AKAM) traded up 1.08% during midday trading on Tuesday, hitting $50.62. 1,187,125 shares of the company were exchanged. The stock has a market cap of $8.75 billion, a PE ratio of 27.66 and a beta of 0.67. Akamai Technologies has a one year low of $46.81 and a one year high of $71.64. The stock’s 50-day moving average is $48.87 and its 200-day moving average is $60.06.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Akamai Technologies had a net margin of 13.53% and a return on equity of 11.31%. The firm had revenue of $609.24 million during the quarter, compared to the consensus estimate of $604.94 million. Equities research analysts anticipate that Akamai Technologies will post $2.55 EPS for the current year.
In other Akamai Technologies news, CEO F Thomson Leighton bought 20,397 shares of Akamai Technologies stock in a transaction dated Thursday, June 15th. The shares were purchased at an average cost of $49.02 per share, with a total value of $999,860.94. Following the completion of the purchase, the chief executive officer now owns 247,454 shares of the company’s stock, valued at $12,130,195.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Sagan sold 17,889 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in Akamai Technologies during the first quarter valued at about $111,000. Whittier Trust Co. boosted its stake in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Akamai Technologies by 79.4% in the first 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 during the last quarter. SpiderRock Advisors LLC purchased a new stake in shares of Akamai Technologies during the first quarter valued at $145,000. Finally, Creative Planning boosted its stake in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.
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 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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