Akamai Technologies Rating Lowered to Neutral at B. Riley (AKAM)
Akamai Technologies (NASDAQ:AKAM) was downgraded by equities research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
In other Akamai Technologies news, Director Paul Sagan sold 50,000 shares of the stock on the open market in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $52.03, for a total value of $2,601,500.00. Following the completion of the sale, the director now directly owns 345,782 shares in the company, valued at approximately $17,991,037. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AKAM has been the subject of a number of other recent research reports. Analysts at Macquarie reiterated an “outperform” rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note to investors on Thursday, September 19th. They now have a $53.00 price target on the stock, up previously from $50.00. Separately, analysts at Oppenheimer raised their price target on shares of Akamai Technologies (NASDAQ:AKAM) from $52.00 to $60.00 in a research note to investors on Wednesday, September 18th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity upgraded shares of Akamai Technologies (NASDAQ:AKAM) to a “buy” rating in a research note to investors on Friday, September 13th. They now have a $56.00 price target on the stock, up previously from $51.00. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Akamai Technologies presently has an average rating of “Buy” and a consensus target price of $48.94.
Akamai Technologies (NASDAQ:AKAM) traded down 1.82% during mid-day trading on Friday, hitting $51.81. 507,666 shares of the company’s stock traded hands. Akamai Technologies has a 52-week low of $32.63 and a 52-week high of $53.20. The stock has a 50-day moving average of $48.57 and a 200-day moving average of $43.43. The company has a market cap of $9.230 billion and a P/E ratio of 38.52.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.46 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.46. The company had revenue of $378.10 million for the quarter, compared to the consensus estimate of $374.31 million. During the same quarter last year, the company posted $0.43 earnings per share. Akamai Technologies’s revenue was up 14.1% compared to the same quarter last year. On average, analysts predict that Akamai Technologies will post $1.97 earnings per share for the current fiscal year.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.