Akamai Technologies (AKAM) Stock Rating Upgraded by Vetr
Akamai Technologies (NASDAQ:AKAM) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $68.08 target price on the technology infrastructure company’s stock. Vetr‘s price target would suggest a potential upside of 4.10% from the company’s previous close.
Several other research firms have also recently issued reports on AKAM. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 price target (up from $58.00) on shares of Akamai Technologies in a research note on Wednesday, January 10th. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Guggenheim raised their price target on shares of Akamai Technologies from $58.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. KeyCorp lowered shares of Akamai Technologies from a “sector weight” rating to an “underweight” rating and cut their price objective for the stock from $66.32 to $51.00 in a report on Thursday, January 11th. Finally, Oppenheimer increased their price objective on shares of Akamai Technologies from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $63.84.
Shares of Akamai Technologies (NASDAQ:AKAM) opened at $65.40 on Tuesday. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.34. The stock has a market cap of $10,910.29, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. 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 company earned $0.68 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. sell-side analysts predict that Akamai Technologies will post 1.89 earnings per share for the current fiscal year.
In related news, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the transaction, the insider now owns 32,319 shares in the company, valued at $2,142,426.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total transaction of $151,708.92. Following the completion of the transaction, the senior vice president now owns 8,046 shares in the company, 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 90 days. 3.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its holdings in Akamai Technologies by 9.0% in the second 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 position in Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. raised its holdings in Akamai Technologies by 2.4% in the second 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, Griffin Asset Management Inc. purchased a new position in Akamai Technologies in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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