Akamai Technologies (NASDAQ:AKAM) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a report released on Wednesday morning, BidAskClub reports.

AKAM has been the topic of a number of other research reports. DA Davidson reaffirmed a buy rating and issued a $95.00 price objective on shares of Akamai Technologies in a research report on Friday, June 14th. B. Riley set a $102.00 price objective on shares of Akamai Technologies and gave the stock a buy rating in a research report on Monday, September 9th. Tigress Financial reaffirmed a buy rating on shares of Akamai Technologies in a research report on Monday, September 23rd. Nomura lifted their price objective on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research raised shares of Akamai Technologies from a hold rating to a buy rating and set a $84.00 price objective on the stock in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Akamai Technologies presently has a consensus rating of Hold and a consensus price target of $87.81.

Shares of Akamai Technologies stock opened at $89.55 on Wednesday. The firm’s 50 day moving average price is $89.73 and its 200-day moving average price is $82.12. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies has a 52-week low of $57.18 and a 52-week high of $93.12. The company has a market cap of $14.55 billion, a P/E ratio of 32.45, a PEG ratio of 1.84 and a beta of 0.62.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.30. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The firm had revenue of $705.07 million for the quarter, compared to the consensus estimate of $695.88 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Akamai Technologies will post 3.31 EPS for the current fiscal year.

In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $90.24, for a total transaction of $281,278.08. Following the sale, the executive vice president now owns 4,109 shares of the company’s stock, valued at approximately $370,796.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total transaction of $289,242.76. Following the sale, the chief financial officer now directly owns 8,795 shares in the company, valued at approximately $783,458.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,864 shares of company stock worth $868,021. 2.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of Akamai Technologies by 11.3% in the 2nd quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock valued at $91,000 after acquiring an additional 115 shares during the last quarter. World Asset Management Inc boosted its holdings in shares of Akamai Technologies by 1.2% in the 2nd quarter. World Asset Management Inc now owns 11,701 shares of the technology infrastructure company’s stock valued at $938,000 after acquiring an additional 136 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of Akamai Technologies by 3.0% in the 2nd quarter. Fulton Bank N.A. now owns 4,695 shares of the technology infrastructure company’s stock valued at $377,000 after acquiring an additional 137 shares during the last quarter. S&CO Inc. boosted its holdings in shares of Akamai Technologies by 2.1% in the 2nd quarter. S&CO Inc. now owns 7,301 shares of the technology infrastructure company’s stock valued at $585,000 after acquiring an additional 149 shares during the last quarter. Finally, We Are One Seven LLC boosted its holdings in shares of Akamai Technologies by 4.0% in the 3rd quarter. We Are One Seven LLC now owns 4,036 shares of the technology infrastructure company’s stock valued at $369,000 after acquiring an additional 156 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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