Akamai Technologies, Inc. (AKAM) Receives $76.44 Consensus Target Price from Analysts
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have received an average recommendation of “Buy” from the twenty-eight brokerages that are currently covering the company, Marketbeat reports. Twelve analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $77.04.
Several equities analysts recently commented on the company. BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 29th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 price objective on shares of Akamai Technologies in a research note on Friday, July 20th. ValuEngine downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Deutsche Bank downgraded Akamai Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $80.00 in a research report on Wednesday, August 1st.
Shares of NASDAQ AKAM opened at $76.47 on Friday. Akamai Technologies has a twelve month low of $46.13 and a twelve month high of $83.08. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $12.63 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.
In other news, EVP Adam Karon sold 10,000 shares of the company’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the executive vice president now owns 13,035 shares of the company’s stock, valued at $977,625. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Aaron Ahola sold 1,123 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $73.63, for a total transaction of $82,686.49. Following the completion of the transaction, the senior vice president now directly owns 4,035 shares in the company, valued at approximately $297,097.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,313 shares of company stock worth $11,800,812. Company insiders own 3.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AKAM. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Akamai Technologies by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 488,378 shares of the technology infrastructure company’s stock worth $34,665,000 after purchasing an additional 3,189 shares during the period. Atria Investments LLC increased its stake in Akamai Technologies by 24.2% in the first quarter. Atria Investments LLC now owns 5,423 shares of the technology infrastructure company’s stock valued at $385,000 after acquiring an additional 1,057 shares during the last quarter. SG Americas Securities LLC increased its stake in Akamai Technologies by 512.7% in the first quarter. SG Americas Securities LLC now owns 50,908 shares of the technology infrastructure company’s stock valued at $3,613,000 after acquiring an additional 42,599 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Akamai Technologies by 78.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 18,433 shares of the technology infrastructure company’s stock valued at $1,363,000 after acquiring an additional 8,121 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in Akamai Technologies in the first quarter valued at $232,000. 86.11% of the stock is currently owned by hedge funds and other institutional investors.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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