Akamai Technologies, Inc. (AKAM) Stock Rating Lowered by Vetr Inc.
Vetr cut shares of Akamai Technologies, Inc. (NASDAQ:AKAM) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning. Vetr currently has $52.07 price objective on the technology infrastructure company’s stock.
Other equities research analysts have also issued reports about the stock. Deutsche Bank AG reiterated a buy rating and issued a $70.00 price objective (down from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Piper Jaffray Companies reiterated a buy rating and issued a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. B. Riley reiterated a buy rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Sunday, June 11th. BidaskClub lowered shares of Akamai Technologies from a strong-buy rating to a buy rating in a research report on Saturday, August 19th. Finally, TheStreet lowered shares of Akamai Technologies from a b- rating to a c rating in a research report on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $61.50.
Akamai Technologies (NASDAQ AKAM) opened at 47.34 on Wednesday. The company has a market cap of $8.12 billion, a PE ratio of 27.04 and a beta of 0.64. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.64. The company’s 50-day moving average price is $46.50 and its 200 day moving average price is $52.73.
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, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Akamai Technologies will post $2.52 EPS for the current year.
In other Akamai Technologies news, Director Frederic V. Salerno bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO F Thomson Leighton bought 21,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 46,371 shares of company stock valued at $2,245,016. Corporate insiders own 3.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AKAM. Advisory Services Network LLC increased its position in Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Akamai Technologies during the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. acquired a new stake in Akamai Technologies during the 2nd quarter worth approximately $119,000. FTB Advisors Inc. increased its position in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Akamai Technologies by 79.4% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after purchasing an additional 1,032 shares in the last quarter. 84.45% of the stock is owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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