Akamai Technologies, Inc. (AKAM) Receives Average Rating of “Hold” from Analysts
Akamai Technologies, Inc. (NASDAQ:AKAM) has been given an average recommendation of “Hold” by the twenty-nine ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.00.
AKAM has been the topic of several research reports. Vetr raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price objective on the stock in a report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Instinet reissued a “neutral” rating and set a $47.00 price objective (down from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. Stifel Nicolaus reissued a “hold” rating and set a $56.00 price objective on shares of Akamai Technologies in a report on Thursday, September 14th. Finally, Cowen and Company reissued a “hold” rating and set a $61.00 price objective on shares of Akamai Technologies in a report on Friday, July 21st.
In other news, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were bought at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the acquisition, the chief executive officer now directly owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was purchased at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the acquisition, the director now directly owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders acquired a total of 46,371 shares of company stock worth $2,245,016 over the last quarter. 3.20% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Perigon Wealth Management LLC lifted its holdings in shares of Akamai Technologies by 9.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 17,896 shares of the technology infrastructure company’s stock worth $891,000 after acquiring an additional 1,550 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter worth approximately $209,000. Sentry Investment Management LLC lifted its holdings in shares of Akamai Technologies by 50.3% in the 2nd quarter. Sentry Investment Management LLC now owns 13,629 shares of the technology infrastructure company’s stock worth $679,000 after acquiring an additional 4,564 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Akamai Technologies by 25.3% in the 2nd quarter. Toronto Dominion Bank now owns 58,568 shares of the technology infrastructure company’s stock worth $2,917,000 after acquiring an additional 11,830 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.
Akamai Technologies (NASDAQ AKAM) traded up 1.70% on Friday, hitting $48.33. The company’s stock had a trading volume of 1,657,146 shares. The firm has a 50 day moving average of $46.54 and a 200 day moving average of $52.35. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 27.60 and a beta of 0.64. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Equities research analysts forecast that Akamai Technologies will post $2.52 earnings per share for the current fiscal year.
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About Akamai Technologies
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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