Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Rating of “Buy” from Analysts

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus recommendation of “Buy” by the twenty-four analysts that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $110.17.

Several research analysts recently issued reports on the stock. William Blair reissued a “buy” rating on shares of Akamai Technologies in a report on Thursday, April 9th. Zacks Investment Research cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $103.00 target price for the company. in a report on Thursday, April 30th. Craig Hallum raised their target price on shares of Akamai Technologies from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $105.00 in a report on Thursday, March 12th. Finally, Nomura Securities reissued a “hold” rating and set a $115.00 target price (up previously from $100.00) on shares of Akamai Technologies in a report on Wednesday, April 15th.

Shares of NASDAQ AKAM traded up $2.48 during midday trading on Friday, reaching $105.37. The company had a trading volume of 4,092,340 shares, compared to its average volume of 2,067,871. The business’s 50-day simple moving average is $100.85 and its 200 day simple moving average is $94.91. The stock has a market cap of $16.70 billion, a P/E ratio of 35.01, a P/E/G ratio of 2.12 and a beta of 0.36. Akamai Technologies has a 1 year low of $75.18 and a 1 year high of $108.25. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.69.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, April 28th. The technology infrastructure company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. The business had revenue of $764.30 million during the quarter, compared to analysts’ expectations of $749.75 million. Akamai Technologies had a net margin of 16.74% and a return on equity of 16.54%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. Analysts predict that Akamai Technologies will post 3.93 earnings per share for the current year.

In other news, EVP Adam Karon sold 5,000 shares of Akamai Technologies stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the executive vice president now owns 8,260 shares in the company, valued at $826,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 4,068 shares of Akamai Technologies stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $98.00, for a total transaction of $398,664.00. Following the completion of the sale, the chief financial officer now owns 17,459 shares in the company, valued at approximately $1,710,982. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,624 shares of company stock worth $4,101,440. Company insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AKAM. CENTRAL TRUST Co acquired a new position in Akamai Technologies in the 1st quarter valued at about $25,000. Ballast Advisors LLC acquired a new position in Akamai Technologies in the 1st quarter valued at about $27,000. Baystate Wealth Management LLC acquired a new position in Akamai Technologies in the 1st quarter valued at about $27,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Akamai Technologies in the 1st quarter valued at about $27,000. Finally, AllSquare Wealth Management LLC acquired a new position in Akamai Technologies in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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