Akamai Technologies, Inc. (NASDAQ:AKAM) Given Average Recommendation of "Hold" by Brokerages – MarketBeat
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Shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) have received an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $123.42.
A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Akamai Technologies from $140.00 to $135.00 in a report on Wednesday, May 4th. Morgan Stanley lowered their target price on Akamai Technologies from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Cowen lowered their target price on Akamai Technologies from $186.00 to $164.00 in a report on Wednesday, May 4th. Craig Hallum lowered their target price on Akamai Technologies from $120.00 to $90.00 in a report on Wednesday, May 4th. Finally, Raymond James decreased their price objective on Akamai Technologies from $118.00 to $115.00 in a report on Wednesday, May 4th.
Insider Activity at Akamai Technologies
In related news, EVP Paul C. Joseph sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $95.22, for a total value of $1,190,250.00. Following the completion of the sale, the executive vice president now directly owns 32,573 shares in the company, valued at approximately $3,101,601.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Paul C. Joseph sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $95.22, for a total value of $1,190,250.00. Following the completion of the sale, the executive vice president now directly owns 32,573 shares in the company, valued at approximately $3,101,601.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $97.68, for a total transaction of $488,400.00. Following the completion of the sale, the chief technology officer now owns 19,725 shares of the company’s stock, valued at $1,926,738. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Akamai Technologies
Several hedge funds have recently bought and sold shares of AKAM. Lombard Odier Asset Management Europe Ltd lifted its position in Akamai Technologies by 10,159.2% during the fourth quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure company’s stock worth $63,892,000 after acquiring an additional 53,972,730 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $154,558,000. Assenagon Asset Management S.A. raised its position in shares of Akamai Technologies by 892.9% in the first quarter. Assenagon Asset Management S.A. now owns 628,180 shares of the technology infrastructure company’s stock valued at $74,998,000 after buying an additional 564,910 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Akamai Technologies by 4,398.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock valued at $51,581,000 after buying an additional 422,434 shares in the last quarter. Finally, Korea Investment CORP raised its position in shares of Akamai Technologies by 516.9% in the fourth quarter. Korea Investment CORP now owns 383,105 shares of the technology infrastructure company’s stock valued at $44,839,000 after buying an additional 321,000 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.
Akamai Technologies Stock Performance
Shares of Akamai Technologies stock opened at $96.00 on Thursday. The company has a market capitalization of $15.39 billion, a PE ratio of 25.81, a PEG ratio of 1.87 and a beta of 0.64. Akamai Technologies has a 12 month low of $85.90 and a 12 month high of $123.25. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $93.95 and its 200 day simple moving average is $105.05.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $903.65 million for the quarter, compared to the consensus estimate of $904.89 million. Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. On average, research analysts predict that Akamai Technologies will post 4.25 EPS for the current year.
Akamai Technologies Company Profile
(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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