Akamai Technologies, Inc. (AKAM) Price Target Lowered to $0.00 at Oppenheimer Holdings, Inc.
Akamai Technologies, Inc. (NASDAQ:AKAM) had its price objective cut by equities research analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the technology infrastructure company’s stock.
A number of other brokerages have also recently commented on AKAM. Stifel Nicolaus reaffirmed a “hold” rating and set a $62.00 price objective (down from $65.00) on shares of Akamai Technologies in a research note on Sunday, April 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 price objective on shares of Akamai Technologies in a research note on Wednesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective (down from $65.00) on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Finally, Zacks Investment Research raised Akamai Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Akamai Technologies presently has an average rating of “Hold” and an average target price of $63.26.
Shares of Akamai Technologies (AKAM) traded down 13.78% during midday trading on Wednesday, hitting $45.94. The stock had a trading volume of 10,930,736 shares. Akamai Technologies has a one year low of $45.50 and a one year high of $71.64. The firm’s 50-day moving average price is $50.08 and its 200-day moving average price is $58.07. The firm has a market capitalization of $7.94 billion, a PE ratio of 25.10 and a beta of 0.67.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. The business had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Akamai Technologies will post $2.55 EPS for the current year.
In other news, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was purchased at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the transaction, the chief executive officer now directly owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders bought 61,410 shares of company stock worth $2,999,444 in the last ninety days. 3.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of AKAM. Advisory Services Network LLC purchased a new position in Akamai Technologies during the first quarter valued at approximately $111,000. Whittier Trust Co. increased its position in Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in Akamai Technologies during the first quarter valued at approximately $145,000. Finally, Creative Planning increased its position in Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors.
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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