BidaskClub downgraded shares of Akamai Technologies (NASDAQ:AKAM) from a strong-buy rating to a buy rating in a report released on Thursday.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reissued a neutral rating and issued a $75.00 target price (up previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, January 10th. Guggenheim increased their target price on Akamai Technologies from $58.00 to $71.00 and gave the company a buy rating in a report on Wednesday, December 20th. KeyCorp downgraded Akamai Technologies from a sector weight rating to an underweight rating and lowered their target price for the company from $66.32 to $51.00 in a report on Thursday, January 11th. Oppenheimer increased their target price on Akamai Technologies from $60.00 to $80.00 and gave the company an outperform rating in a report on Monday, December 18th. Finally, Zacks Investment Research downgraded Akamai Technologies from a buy rating to a hold rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of Hold and a consensus price target of $63.84.
Akamai Technologies (AKAM) traded up $0.55 during trading on Thursday, hitting $65.63. The company had a trading volume of 1,336,541 shares, compared to its average volume of 1,622,826. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.34. The stock has a market capitalization of $11,101.44, a PE ratio of 39.54, a PEG ratio of 2.65 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. During the same period last year, the firm posted $0.68 earnings per share. Akamai Technologies’s revenue was up 6.3% compared to the same quarter last year. research analysts anticipate that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.
In related news, insider Rick M. Mcconnell sold 3,966 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $54.19, for a total transaction of $214,917.54. Following the completion of the sale, the insider now owns 39,753 shares in the company, valued at $2,154,215.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the sale, the senior vice president now owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The disclosure for this sale can be found here. Insiders sold 71,971 shares of company stock worth $4,141,642 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its position in shares of Akamai Technologies by 39.2% during the fourth quarter. State of Alaska Department of Revenue now owns 30,384 shares of the technology infrastructure company’s stock worth $1,974,000 after purchasing an additional 8,550 shares in the last quarter. Endurance Wealth Management Inc. grew its position in shares of Akamai Technologies by 2.3% during the fourth quarter. Endurance Wealth Management Inc. now owns 182,758 shares of the technology infrastructure company’s stock worth $11,887,000 after purchasing an additional 4,086 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Akamai Technologies by 4.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 846,317 shares of the technology infrastructure company’s stock worth $55,045,000 after purchasing an additional 37,303 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $541,000. Finally, Creative Planning purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $247,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.
Akamai Technologies Company Profile
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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