Nomura Lowers Akamai Technologies, Inc. (AKAM) Price Target to $47.00
Akamai Technologies, Inc. (NASDAQ:AKAM) had its price target lowered by Nomura from $48.00 to $47.00 in a research note released on Tuesday morning. The brokerage currently has a neutral rating on the technology infrastructure company’s stock.
AKAM has been the subject of a number of other reports. Cowen and Company reissued a hold rating and issued a $60.00 target price on shares of Akamai Technologies in a research note on Friday, July 28th. Robert W. Baird reissued a hold rating and issued a $52.00 target price on shares of Akamai Technologies in a research note on Friday, September 1st. BidaskClub cut Akamai Technologies from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Royal Bank Of Canada reissued a sector perform rating and issued a $54.00 target price (down from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, Zacks Investment Research cut Akamai Technologies from a hold rating to a strong sell rating in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $61.50.
Akamai Technologies (NASDAQ AKAM) opened at 46.00 on Tuesday. The company has a market cap of $7.89 billion, a PE ratio of 26.27 and a beta of 0.64. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The stock has a 50 day moving average price of $46.94 and a 200 day moving average price of $53.30.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that Akamai Technologies will post $2.52 earnings per share for the current year.
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In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the sale, the director now owns 64,147 shares in the company, valued at $3,177,200.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton acquired 21,554 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. Insiders acquired 66,768 shares of company stock worth $3,244,877 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Akamai Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after buying an additional 424,152 shares during the period. Clearbridge Investments LLC raised its stake in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after buying an additional 717,811 shares during the period. First Trust Advisors LP raised its stake in Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock valued at $241,545,000 after buying an additional 1,428,886 shares during the period. Ameriprise Financial Inc. raised its stake in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock valued at $203,324,000 after buying an additional 780,019 shares during the period. Finally, Fairpointe Capital LLC raised its stake in Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after buying an additional 981,069 shares during the period. Hedge funds and other institutional investors own 84.45% 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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