A number of other equities analysts have also recently issued reports on the stock. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, January 7th. B. Riley raised their target price on shares of Akamai Technologies from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. Credit Suisse Group raised their target price on shares of Akamai Technologies from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. DA Davidson raised their target price on shares of Akamai Technologies to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $106.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $100.26.
NASDAQ:AKAM opened at $99.67 on Friday. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53. Akamai Technologies has a one year low of $67.28 and a one year high of $103.29. The stock has a 50-day simple moving average of $93.25 and a 200 day simple moving average of $89.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.74 and a current ratio of 3.74.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 11th. The technology infrastructure company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.10. The business had revenue of $772.12 million during the quarter, compared to the consensus estimate of $749.76 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. During the same period last year, the firm earned $1.07 earnings per share. On average, equities research analysts forecast that Akamai Technologies will post 3.44 EPS for the current fiscal year.
In other news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of Akamai Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $87.74, for a total transaction of $2,198,939.88. Following the sale, the director now owns 25,062 shares of the company’s stock, valued at $2,198,939.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in Akamai Technologies by 176.7% during the fourth quarter. Captrust Financial Advisors now owns 8,323 shares of the technology infrastructure company’s stock worth $729,000 after purchasing an additional 5,315 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Akamai Technologies during the fourth quarter worth approximately $304,000. Avestar Capital LLC raised its holdings in Akamai Technologies by 8.1% during the fourth quarter. Avestar Capital LLC now owns 3,590 shares of the technology infrastructure company’s stock worth $310,000 after purchasing an additional 268 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Akamai Technologies during the fourth quarter worth approximately $522,000. Finally, First Republic Investment Management Inc. raised its holdings in Akamai Technologies by 3.6% during the fourth quarter. First Republic Investment Management Inc. now owns 23,980 shares of the technology infrastructure company’s stock worth $2,071,000 after purchasing an additional 825 shares in the last quarter. 89.32% of the stock is currently owned by institutional investors.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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