Akamai Technologies (NASDAQ:AKAM) had its price objective hoisted by JPMorgan Chase & Co. from $122.00 to $125.00 in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the technology infrastructure company’s stock.
Other analysts have also recently issued research reports about the company. Piper Sandler increased their target price on Akamai Technologies from $119.00 to $122.00 and gave the stock an overweight rating in a report on Wednesday. Zacks Investment Research cut shares of Akamai Technologies from a buy rating to a hold rating and set a $103.00 price objective for the company. in a research report on Thursday, April 30th. Nomura Securities reaffirmed a hold rating and issued a $115.00 target price (up from $100.00) on shares of Akamai Technologies in a research note on Wednesday, April 15th. SunTrust Banks increased their price target on shares of Akamai Technologies from $108.00 to $117.00 and gave the company a buy rating in a research note on Wednesday, April 29th. Finally, Royal Bank of Canada raised their price target on shares of Akamai Technologies from $94.00 to $105.00 in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of Buy and a consensus price target of $117.00.
Shares of AKAM stock opened at $112.44 on Wednesday. The company has a market capitalization of $18.25 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.32 and a beta of 0.34. Akamai Technologies has a 12-month low of $75.18 and a 12-month high of $116.39. The company has a quick ratio of 3.20, a current ratio of 3.34 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $108.31 and a 200 day moving average price of $99.29.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. The company had revenue of $794.72 million during the quarter, compared to analysts’ expectations of $767.38 million. Akamai Technologies had a net margin of 17.82% and a return on equity of 17.37%. Akamai Technologies’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, research analysts expect that Akamai Technologies will post 3.93 earnings per share for the current year.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 11,120 shares of Akamai Technologies stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the transaction, the insider now directly owns 38,747 shares in the company, valued at $3,719,712. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,068 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $98.00, for a total value of $398,664.00. Following the completion of the transaction, the chief financial officer now directly owns 17,459 shares of the company’s stock, valued at $1,710,982. The disclosure for this sale can be found here. Insiders sold a total of 37,992 shares of company stock valued at $3,849,989 in the last three months. 2.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AKAM. Cubist Systematic Strategies LLC bought a new position in Akamai Technologies in the fourth quarter valued at approximately $304,000. National Pension Service increased its position in shares of Akamai Technologies by 3.3% during the fourth quarter. National Pension Service now owns 262,533 shares of the technology infrastructure company’s stock worth $22,678,000 after acquiring an additional 8,465 shares in the last quarter. Procyon Private Wealth Partners LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $57,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Akamai Technologies in the 4th quarter valued at $1,097,000. Finally, Norges Bank acquired a new position in Akamai Technologies in the 4th quarter worth $147,267,000. 86.99% of the stock is owned by institutional investors and hedge funds.
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. 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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