Akamai Technologies (NASDAQ:AKAM) had its price objective lifted by Piper Sandler from $119.00 to $122.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the technology infrastructure company’s stock.
AKAM has been the topic of a number of other reports. Raymond James boosted their price objective on Akamai Technologies from $110.00 to $117.00 and gave the company an outperform rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $110.00 to $122.00 and gave the company an overweight rating in a research note on Friday, July 10th. DA Davidson lifted their target price on shares of Akamai Technologies from $115.00 to $130.00 and gave the company a buy rating in a research report on Wednesday. BidaskClub cut shares of Akamai Technologies from a buy rating to a hold rating in a research note on Thursday, June 4th. Finally, Evercore ISI started coverage on shares of Akamai Technologies in a research note on Monday, April 20th. They set an outperform rating and a $120.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Akamai Technologies currently has a consensus rating of Buy and a consensus price target of $117.00.
Shares of Akamai Technologies stock opened at $112.44 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.34 and a quick ratio of 3.20. The company has a market cap of $18.25 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.34. The firm has a fifty day moving average price of $108.31 and a two-hundred day moving average price of $99.29. Akamai Technologies has a fifty-two week low of $75.18 and a fifty-two week high of $116.39.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.17. Akamai Technologies had a net margin of 17.82% and a return on equity of 17.37%. The business had revenue of $794.72 million during the quarter, compared to analysts’ expectations of $767.38 million. During the same quarter last year, the company earned $1.07 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts expect that Akamai Technologies will post 3.93 earnings per share for the current fiscal year.
In other news, CFO Edward J. Mcgowan sold 4,068 shares of Akamai Technologies stock in a transaction on Friday, May 15th. The stock was sold at an average price of $98.00, for a total value of $398,664.00. Following the completion of the sale, the chief financial officer now directly owns 17,459 shares of the company’s stock, valued at approximately $1,710,982. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rick M. Mcconnell sold 11,120 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $96.00, for a total value of $1,067,520.00. Following the transaction, the insider now directly owns 38,747 shares in the company, valued at approximately $3,719,712. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,992 shares of company stock worth $3,849,989. 2.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. National Asset Management Inc. lifted its position in Akamai Technologies by 64.7% during the 2nd quarter. National Asset Management Inc. now owns 10,542 shares of the technology infrastructure company’s stock valued at $1,131,000 after purchasing an additional 4,140 shares during the period. Comerica Bank grew its position in shares of Akamai Technologies by 30.4% during the 2nd quarter. Comerica Bank now owns 61,391 shares of the technology infrastructure company’s stock worth $6,987,000 after buying an additional 14,301 shares during the period. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Akamai Technologies during the second quarter worth approximately $5,896,000. Ingalls & Snyder LLC lifted its holdings in Akamai Technologies by 0.3% in the second quarter. Ingalls & Snyder LLC now owns 45,538 shares of the technology infrastructure company’s stock valued at $4,877,000 after buying an additional 155 shares during the period. Finally, Vivid Financial Management Inc. boosted its stake in Akamai Technologies by 94.8% in the second quarter. Vivid Financial Management Inc. now owns 5,423 shares of the technology infrastructure company’s stock valued at $581,000 after acquiring an additional 2,639 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other 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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