Craig Hallum reaffirmed their buy rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note published on Wednesday morning, The Fly reports. The brokerage currently has a $92.00 target price on the technology infrastructure company’s stock, up from their previous target price of $82.00.
A number of other research analysts also recently issued reports on AKAM. Zacks Investment Research downgraded shares of Akamai Technologies from a buy rating to a sell rating in a research report on Tuesday, April 16th. Piper Jaffray Companies upped their target price on shares of Akamai Technologies from $85.00 to $96.00 and gave the company an overweight rating in a research report on Wednesday. Needham & Company LLC assumed coverage on shares of Akamai Technologies in a research report on Monday, April 22nd. They set a buy rating and a $95.00 target price on the stock. Tigress Financial restated a strong-buy rating on shares of Akamai Technologies in a research report on Thursday, April 4th. Finally, Deutsche Bank downgraded shares of Akamai Technologies from a hold rating to a sell rating and set a $58.00 price target on the stock. in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $82.47.
NASDAQ:AKAM traded down $0.24 during mid-day trading on Wednesday, reaching $80.03. 1,029,922 shares of the company were exchanged, compared to its average volume of 1,236,511. Akamai Technologies has a 12 month low of $57.18 and a 12 month high of $86.19. The company has a quick ratio of 2.09, a current ratio of 3.19 and a debt-to-equity ratio of 0.27. The firm has a market cap of $13.12 billion, a P/E ratio of 29.00, a P/E/G ratio of 1.65 and a beta of 0.60.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The company had revenue of $706.51 million for the quarter, compared to the consensus estimate of $698.33 million. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that Akamai Technologies will post 3.21 earnings per share for the current fiscal year.
In other Akamai Technologies news, Director Monte E. Ford sold 24,721 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $72.41, for a total transaction of $1,790,047.61. Following the sale, the director now directly owns 41,012 shares in the company, valued at approximately $2,969,678.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Aaron Ahola sold 2,157 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $70.16, for a total transaction of $151,335.12. Following the sale, the senior vice president now owns 4,035 shares in the company, valued at $283,095.60. The disclosure for this sale can be found here. Insiders sold a total of 112,930 shares of company stock worth $8,185,826 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Burney Co. raised its holdings in Akamai Technologies by 0.4% during the 4th quarter. Burney Co. now owns 36,601 shares of the technology infrastructure company’s stock worth $2,236,000 after buying an additional 149 shares during the period. CAPROCK Group Inc. raised its holdings in Akamai Technologies by 3.2% during the 1st quarter. CAPROCK Group Inc. now owns 4,864 shares of the technology infrastructure company’s stock worth $349,000 after buying an additional 151 shares during the period. Montag & Caldwell LLC raised its holdings in Akamai Technologies by 4.2% during the 1st quarter. Montag & Caldwell LLC now owns 4,545 shares of the technology infrastructure company’s stock worth $326,000 after buying an additional 183 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in Akamai Technologies by 1.5% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,143 shares of the technology infrastructure company’s stock worth $803,000 after buying an additional 190 shares during the period. Finally, Belpointe Asset Management LLC raised its holdings in Akamai Technologies by 12.3% during the 4th quarter. Belpointe Asset Management LLC now owns 1,730 shares of the technology infrastructure company’s stock worth $106,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 88.44% of the company’s stock.
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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