Akamai Technologies (AKAM) Price Target Raised to $64.00
Akamai Technologies (NASDAQ:AKAM) had its price target increased by DA Davidson from $57.00 to $64.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the technology infrastructure company’s stock.
Other equities analysts also recently issued research reports about the company. Nomura upped their price target on Akamai Technologies from $50.00 to $60.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Piper Jaffray Companies restated a buy rating and issued a $60.00 price target on shares of Akamai Technologies in a research note on Wednesday, October 25th. SunTrust Banks restated a hold rating on shares of Akamai Technologies in a research note on Wednesday, October 25th. Deutsche Bank restated a buy rating and issued a $75.00 price target on shares of Akamai Technologies in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Co restated a market perform rating and issued a $62.00 price target (up previously from $57.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $67.84.
Akamai Technologies (AKAM) opened at $64.48 on Wednesday. The stock has a market capitalization of $10,769.89, a PE ratio of 51.58, a P/E/G ratio of 2.57 and a beta of 0.71. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $69.56. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20.
In related news, CEO F Thomson Leighton bought 18,545 shares of Akamai Technologies stock in a transaction dated Wednesday, November 15th. The shares were bought at an average cost of $53.91 per share, with a total value of $999,760.95. Following the acquisition, the chief executive officer now owns 226,950 shares in the company, valued at approximately $12,234,874.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.29, for a total value of $662,900.00. Following the sale, the insider now directly owns 32,319 shares in the company, valued at $2,142,426.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,112 shares of company stock worth $3,562,575. 3.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CenterStar Asset Management LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth $114,000. Advisory Services Network LLC grew its holdings 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 worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth $117,000. BB&T Investment Services Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth $119,000. Finally, Welch & Forbes LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth $203,000. 86.52% of the stock is currently owned by institutional investors.
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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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