Akamai Technologies (AKAM) Rating Reiterated by Piper Jaffray Companies
Akamai Technologies (NASDAQ:AKAM)‘s stock had its “buy” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research note issued to investors on Monday. They currently have a $59.00 target price on the technology infrastructure company’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 4.54% from the stock’s current price.
Several other research firms also recently weighed in on AKAM. Wells Fargo & Company set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a report on Thursday, October 12th. Credit Suisse Group increased their price target on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Nomura increased their price target on Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Vetr raised Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price target for the company in a report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $60.59.
Shares of Akamai Technologies (AKAM) opened at $56.44 on Monday. The firm has a market capitalization of $9,546.92, a P/E ratio of 29.40, a PEG ratio of 2.23 and a beta of 0.68. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.64. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20.
In other news, CEO F Thomson Leighton purchased 19,670 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was acquired at an average price of $50.83 per share, for a total transaction of $999,826.10. Following the completion of the transaction, the chief executive officer now directly owns 226,950 shares in the company, valued at approximately $11,535,868.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,181 shares of company stock valued at $1,614,560. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in AKAM. IFM Investors Pty Ltd purchased a new stake in Akamai Technologies during the 3rd quarter worth about $262,000. Sterling Capital Management LLC increased its position in Akamai Technologies by 1.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,439,744 shares of the technology infrastructure company’s stock worth $70,144,000 after purchasing an additional 17,892 shares in the last quarter. California Public Employees Retirement System increased its position in Akamai Technologies by 1.3% during the 3rd quarter. California Public Employees Retirement System now owns 417,053 shares of the technology infrastructure company’s stock worth $20,319,000 after purchasing an additional 5,553 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Akamai Technologies by 24.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,065 shares of the technology infrastructure company’s stock worth $783,000 after purchasing an additional 3,197 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Akamai Technologies by 34.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,924 shares of the technology infrastructure company’s stock worth $433,000 after purchasing an additional 2,304 shares in the last quarter. Institutional investors and hedge funds own 86.57% 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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