Akamai Technologies (NASDAQ:AKAM) Cut to "Hold" at StockNews.com – MarketBeat
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Akamai Technologies (NASDAQ:AKAM – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
A number of other research analysts also recently weighed in on AKAM. Raymond James cut their price target on Akamai Technologies from $118.00 to $115.00 in a research note on Wednesday, May 4th. Cowen cut their price target on Akamai Technologies from $186.00 to $164.00 in a research note on Wednesday, May 4th. Citigroup lowered their price objective on shares of Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. Craig Hallum lowered their price objective on shares of Akamai Technologies from $120.00 to $90.00 in a research report on Wednesday, May 4th. Finally, Evercore ISI lowered their price objective on shares of Akamai Technologies to $110.00 in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $118.21.
Akamai Technologies Trading Down 2.7 %
NASDAQ:AKAM traded down $2.59 during trading hours on Friday, hitting $92.04. 1,463,545 shares of the stock were exchanged, compared to its average volume of 1,665,101. The company’s 50 day moving average is $93.17 and its two-hundred day moving average is $102.96. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $14.63 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64. Akamai Technologies has a twelve month low of $85.90 and a twelve month high of $123.25.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.04. The company had revenue of $903.33 million for the quarter, compared to the consensus estimate of $898.75 million. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 EPS. On average, sell-side analysts anticipate that Akamai Technologies will post 4.19 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $94.25, for a total value of $471,250.00. Following the completion of the transaction, the chief technology officer now owns 14,835 shares in the company, valued at approximately $1,398,198.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Hedge Funds Weigh In On Akamai Technologies
Hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new stake in Akamai Technologies in the 4th quarter valued at about $25,000. Karlinski Andrew C acquired a new stake in Akamai Technologies in the 1st quarter valued at about $30,000. Ancora Advisors LLC lifted its stake in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. CX Institutional acquired a new stake in Akamai Technologies in the 2nd quarter valued at about $28,000. Finally, Baystate Wealth Management LLC lifted its stake in Akamai Technologies by 33.3% in the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.
About Akamai Technologies
(Get Rating)
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.
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