Akamai Technologies (NASDAQ:AKAM) had its price objective hoisted by Royal Bank of Canada from $94.00 to $105.00 in a research report released on Wednesday, The Fly reports.
Other equities analysts have also issued research reports about the stock. Evercore ISI started coverage on shares of Akamai Technologies in a research report on Monday, April 20th. They set an outperform rating and a $120.00 target price for the company. William Blair reiterated a buy rating on shares of Akamai Technologies in a research report on Thursday, April 9th. Cowen upgraded shares of Akamai Technologies from a market perform rating to an outperform rating and increased their target price for the stock from $107.00 to $150.00 in a research report on Thursday, July 2nd. BidaskClub lowered shares of Akamai Technologies from a buy rating to a hold rating in a research report on Thursday, June 4th. Finally, Credit Suisse Group raised their price objective on shares of Akamai Technologies from $95.00 to $105.00 and gave the company a neutral rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Akamai Technologies has a consensus rating of Buy and a consensus price target of $117.00.
NASDAQ AKAM opened at $112.44 on Wednesday. Akamai Technologies has a 52-week low of $75.18 and a 52-week high of $116.39. The company has a 50-day simple moving average of $108.31 and a 200 day simple moving average of $99.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.20 and a current ratio of 3.34. The company has a market capitalization of $18.25 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.34.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The firm had revenue of $794.72 million during the quarter, compared to analyst estimates of $767.38 million. Akamai Technologies had a net margin of 17.82% and a return on equity of 17.37%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. As a group, analysts forecast that Akamai Technologies will post 3.93 EPS for the current fiscal year.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 11,120 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the transaction, the insider now directly owns 38,747 shares of the company’s stock, valued at $3,719,712. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 4,068 shares of Akamai Technologies stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $98.00, for a total transaction of $398,664.00. Following the transaction, the chief financial officer now directly owns 17,459 shares in the company, valued at $1,710,982. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,992 shares of company stock valued at $3,849,989. 2.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of AKAM. Lathrop Investment Management Corp purchased a new position in shares of Akamai Technologies in the first quarter worth $2,021,000. Engineers Gate Manager LP purchased a new position in Akamai Technologies during the 1st quarter valued at $476,000. Cubist Systematic Strategies LLC purchased a new position in Akamai Technologies during the 4th quarter valued at $304,000. GHP Investment Advisors Inc. increased its position in Akamai Technologies by 5.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 38,182 shares of the technology infrastructure company’s stock valued at $3,493,000 after purchasing an additional 1,892 shares during the period. Finally, HighTower Advisors LLC increased its position in Akamai Technologies by 41.6% during the 1st quarter. HighTower Advisors LLC now owns 11,317 shares of the technology infrastructure company’s stock valued at $1,025,000 after purchasing an additional 3,324 shares during the period. 86.99% of the stock is currently owned by hedge funds and other 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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