Akamai Technologies, Inc. (AKAM) Rating Increased to B- at TheStreet
Akamai Technologies, Inc. (NASDAQ:AKAM) was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Tuesday.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Cowen and Company reiterated a “hold” rating and issued a $59.00 target price on shares of Akamai Technologies in a report on Friday, October 27th. Credit Suisse Group increased their target price on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Nomura increased their price target on Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. Akamai Technologies currently has an average rating of “Hold” and an average target price of $60.73.
Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.26 on Tuesday, hitting $54.01. The company had a trading volume of 2,435,600 shares, compared to its average volume of 2,180,317. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.64. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The company has a market cap of $9,140.00, a PE ratio of 28.00, a P/E/G ratio of 2.14 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $0.68 EPS. Akamai Technologies’s quarterly revenue was up 6.3% compared to the same quarter last year. analysts anticipate that Akamai Technologies will post 1.88 earnings per share for the current fiscal year.
In related news, CEO F Thomson Leighton bought 19,670 shares of the business’s stock in a transaction on Monday, October 16th. The stock was acquired at an average price of $50.83 per share, for a total transaction of $999,826.10. Following the purchase, the chief executive officer now directly owns 226,950 shares in the company, valued at $11,535,868.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s 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 completion of the transaction, 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. In the last three months, insiders sold 28,438 shares of company stock valued at $1,463,695. 3.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AKAM. First Trust Advisors LP boosted its stake in Akamai Technologies by 41.8% in the 2nd quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after purchasing an additional 1,428,886 shares during the period. Alyeska Investment Group L.P. bought a new position in Akamai Technologies in the 3rd quarter worth about $65,270,000. Janus Henderson Group PLC boosted its stake in Akamai Technologies by 5,158.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock worth $59,877,000 after purchasing an additional 1,179,251 shares during the period. Fairpointe Capital LLC boosted its stake in Akamai Technologies by 44.0% in the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after purchasing an additional 981,069 shares during the period. Finally, ETF Managers Group LLC bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $45,156,000. Institutional investors and hedge funds own 84.30% 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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