B. Riley restated their buy rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a report issued on Thursday morning. They currently have a $66.00 price target on the technology infrastructure company’s stock.

“We believe the volatile CDN/Media segment will be ~20% of revenue by YE18, while the SaaS/ Security segment should be ~70% of revenue, growing in the low double digit range with industry leading margins.”,” the firm’s analyst wrote.

A number of other research firms have also recently commented on AKAM. Instinet restated a neutral rating and issued a $47.00 target price on shares of Akamai Technologies in a research note on Friday, October 6th. Guggenheim upgraded Akamai Technologies from a neutral rating to a buy rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a hold rating and set a $56.00 price objective (down previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. BidaskClub cut Akamai Technologies from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Finally, Royal Bank Of Canada reiterated a sector perform rating and set a $54.00 price objective (down previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $59.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the 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 return on equity of 10.97% and a net margin of 12.67%. Akamai Technologies’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS.

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In related news, insider Rick M. Mcconnell sold 7,579 shares of Akamai Technologies stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $51.00, for a total value of $386,529.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 168 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $119,000. FTB Advisors Inc. raised its position in shares of Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after buying an additional 59 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised 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 purchasing an additional 1,032 shares during the period. 84.49% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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